A chastened Bloomberg has turned on its master:
Ever since President Xi Jinping sought to draw a line under China’s slowdown last month, investors have clamored for him to back up monetary easing with a powerful fiscal stimulus to help fuel one of the nation’s biggest stock rallies in years.
But those who hoped to get an answer on Tuesday were disappointed. The National Development and Reform Commission, China’s economic planning agency, used the government’s first briefing after a weeklong national holiday to announce that a meager 200 billion yuan ($28 billion) in spending would be advanced from next year, after analysts forecast a fiscal package worth as much as 3 trillion yuan in the pipeline.
