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China’s property market downturn will continue and worsen deflationary pressures, former Finance Minister Lou Jiwei warned, calling for more stimulus to cushion growth.
The country needs to set a larger fiscal deficit as an expansionary fiscal policy is needed to support structural reforms such as the property market’s transformation, said Lou, who helmed the Ministry of Finance from 2013 to 2016 and is known for his outspoken views.
China’s Ex-Finance Chief Warns Property Bust to Worsen Deflation
