Chinese regulators pledge support as markets tumble, GDP disappoints

Торговая война значительно замедлила темп роста экономики Китая

China's 3Q GDP growth slowest since 2009

Naoto Saito, an economic researcher at Daiwa Institute of Research Ltd., commented, "Expansion of the trade war could hit the Chinese and USA economies, and deceleration of the Chinese economy could become drawn out".

According to the China Academy for Macroeconomic Research, China could withstand an increase of USA trade tariffs on its goods of up to 25 percent on US$200 billion and suffer only "limited impacts" to its economy.

"Faced with an extremely complex environment overseas and the daunting task of reform and development at home", China's economic growth remained generally steady, said NBS spokesman Mao Shengyong.

There's already a big acceleration in lending underway and now the PBOC is announcing new steps, ' said Ray Attrill, head of currency strategy at NAB in Sydney.

China stocks have faced a turbulent year as the value of global shares bear the brunt of an escalating trade war between Beijing and the US, further being heightened by policy tightening by the US Federal Reserve.

Despite signs of a cooling economy, Chinese officials are optimistic past growth will help Beijing survive its trade dispute with the U.S.

Liu trumpeted a raft of new policies meant to boost the stock market and reaffirmed the importance of China's private sector, which has suffered from a push to strengthen state-owned enterprises.

In a warning this week, Chinese Premier Li Keqiang said the Asian economic powerhouse faces increasing downward pressure and pledged the government will take targeted measures to prevent large fluctuations in growth.

The Shanghai Composite index was down 0.4 percent in early trade after touching near four-year lows on Thursday.

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CNBC notes that many outside experts have expressed skepticism about the reliability of the financial statements of China.

The decline is "creating good investment opportunities", Liu said in comments carried by the official Xinhua News Agency and business newspapers and websites.

"We expect an adverse impact from the trade tension will appear more clearly in data after the start of new year, ' SMBC Nikko Securities" Hirayama said.

Zhang Gang, a strategist at Central China Securities, said investors had been awaiting a strong signal from the government but that more than mere words was needed. The Shanghai Composite Index-the worst performer among global benchmarks-has declined 25% so far this year.

Market bubbles have sharply contracted, the quality of listed firms is improving, while valuations are at historic lows, he said. Auto sales, for instance, fell for a third straight month in September, putting the country on track for its first yearly decline in passenger-vehicle sales in almost three decades.

The announcement came after China posted its lowest GDP growth since 2009.

The spokesman also believe that the infrastructure spending will stabilize fixed asset investment in the upcoming months as a batch of project is expected to be breaking ground.

Washington has hit roughly half of Chinese imports while Beijing has taken aim at most USA imports.

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