As Beijing strives to revive its economy with a slew of stimulus measures, private and foreign entrepreneurs remain cautious about their investment strategy in China, calling policies too narrow and insufficient to revive confidence amid economic headwinds.
Private investors and international exporters said they were holding off on new investments or shifting focus overseas, pressing for more “tangible” and “broader-based” actions.
“The Chinese government needs to take more tangible and comprehensive actions, rather than simply offering financial adjustments, which are often more notional than practical,” said Deepak Khanna, vice-president for the Asia-Pacific region at Indian home appliances company Usha International.
But while reiterating the central government still had “room” to raise debt and the fiscal deficit, the finance ministry did not reveal any broad-based stimulus measures.