In recent weeks China has shifted its economic policy to a more stimulative stance: officials have vowed to accelerate investment plans, the commerce ministry is rolling out subsidies to spur consumption and the central bank cut interest rates on Thursday for the first time since 2008.
But stimulus measures come in all shapes and sizes, and the latest batch of data released at the weekend suggest Beijing has no need for a gargantuan spending programme of the kind launched at the height of the global financial crisis.
When the central bank reduced rates on Thursday, investors fretted that it was loosening policy more aggressively than expected because the economy was experiencing an abrupt slowdown.
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