Chinese shares jumped upon reopening after a weeklong holiday on Tuesday but officials stopped short of unveiling more fiscal stimulus measures, limiting further gains after a blistering market rally.
Investor expectations had built up that President Xi Jinping’s economic planners would on Tuesday detail their plans for greater fiscal spending to complement a monetary stimulus that propelled Chinese equities to their best week since 2008.
Zheng Shanjie, chair of the National Development and Reform Commission, China’s state economic planner, said at a press conference in Beijing that he had “full confidence” the economy would reach its official full-year growth target of about 5 per cent.
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