The US-China trade tensions and the resulting fears of a slowdown in China’s economy are “receding a bit”, the CEO of Standard Chartered reportedly said while speaking at an investment conference in Hong Kong.
In 2018, China’s economic growth rate slowed to the lowest level in 28 years, forcing the government to lift its 2019 budget deficit target to 2.8 percent of gross domestic product from last year’s 2.6 percent. That will give Beijing more room to initiate tax cuts and increase infrastructure spending to stabilise its sagging economy.
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