Beijing warns of ‘policy addiction’, signalling preference for targeted stimulus

In its third consecutive commentary defending China’s economic resilience, Communist Party mouthpiece People’s Daily emphasised that Beijing was prioritising targeted measures over aggressive stimulus to avoid a potential over-reliance on policy support, while also reiterating confidence in reaching the nation’s economic targets for the year. “China has not taken the path of overrelying on strong policy stimulus,” the piece said. Instead, the commentary added, targeted interventions would...