China Signals No ‘Bazooka’ Stimulus in Key State Media Commentaries

China’s flagship state newspaper has used a prominent pseudonymous commentary series to defend the country’s slowing economic growth and signal that Beijing will resist large-scale stimulus. 

The four-part series in the People’s Daily under the pen name “Zhong Caiwen” — often used to convey the leadership’s economic thinking — aims to guide market expectations following a 4.7% year-on-year GDP expansion in the first half of the year.