大水漫灌 (dàshuǐ mànguàn): Deluge of strong stimulus policies

In the Government Work Report this year, Premier Li Keqiang said that facing new circumstances and developments, the government was firm in choosing not to adopt a deluge of strong stimulus policies, and it maintained the continuity and consistency of macro policies.

Policies aim to keep the main economic indicators within an appropriate range, so anticipatory adjustments and fine-tuning were carried out with targeted and well-timed measures.

As China's economic growth has slowed, some people have called for China to adopt large-scale economic stimulus policies, such as expanding monetary supply to release liquidity. But the Government Work Report this year indicates that pursuing a proactive fiscal policy does not mean that China will resort to strong monetary policies to stimulate the economy. Instead, it will adopt targeted regulation and control measures to strengthen areas of weakness and promote structural adjustment.

He Lifeng, head of the National Development and Reform Commission, said at a press conference on the sidelines of the two sessions on March 6 that it is unnecessary for China to adopt strong stimulus policies. According to He, China will pay great attention to targeted investment to boost the real economy and encourage R&D and innovation.