Central Government May Provide "Non-official Stimulus" To Boost Economy
ANBOUND
China's central government may accept the idea of providing "Non-official Stimulus" to boost the economic growth of Shanghai and other major cities. South China Morning Post reveals that Agricultural Bank of China has signed an agreement with Shanghai government last week to provide the latter RMB 250 billion yuan loan. The loan is equivalent to 12.5% GDP and being considered as “non-official stimulus” in the progress of achieving “steady growth”.