Don't expect a Beijing stimulus package

Far from unleashing a new stimulus package, Beijing is hoping to lure the private sector into previously off-limit areas to boost investment and reboot the economy.

All signs are pointing to a disappointing first quarter for the Chinese economy. Banks, funds and think tanks both in and outside of China are downgrading their forecasts for economic growth, including the Chinese Academy of Social Sciences, Beijing’s key brain trust.

The academy thinks the growth rate for 2014 will dip below the official target of 7.5 per cent. UBS China economist Wang Tao expects first quarter real GDP growth to soften from 7.7 per cent in the last quarter of 2013 to 7.4 per cent.

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