Economy set to maintain momentum, says BOC

The Chinese economy will stabilize in the fourth quarter of this year, Bank of China Ltd said in a report on Wednesday.

"Looking ahead to the fourth quarter, although the external economic environment will remain complicated and volatile, positive factors promoting smooth Chinese economic performance will increase as the country and the United States have restarted trade talks, and policies to stabilize employment, the financial market, foreign trade, foreign investment, domestic investment and expectations have been implemented continuously and will take further effect," said Fan Ruoying, a researcher at Bank of China's Institute of International Finance.

China launched multiple policy measures to ensure steady consumption growth in the third quarter. These measures will help remove the barriers for consumption and hopefully encourage residents to purchase more products, especially in rural areas, and also encourage green and intelligent information consumption in the fourth quarter, she said.