The Chinese government is planning to boost growth to more than 10 percent next year and boost the value of its yuan by as much as 10 percent in 2020, according to a report in the Wall Street Journal.
The plan will also see the government gradually ramp up spending, boosting its budget deficit to more like $1 trillion by 2025, the report said.
The increase in spending will allow the Chinese economy to expand further and to offset the decline in the value-added sector that the country’s economy is expected to contract by around 0.7 percent in 2019.
The country’s economic recovery in recent years has been hampered by a drop in industrial output, the WSJ said.
A rise in the Chinese currency, the renminbi, would further stimulate economic activity, the analysts said.
China’s economy has slowed in recent months due to slowing growth in its manufacturing sector and a weakening of the value added sector.
China has been struggling to revive its economy in recent quarters, following a massive capital outflow from the country in 2014.
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