China's Premier Li Keqiang is likely to unveil measures in coming months to prevent growth in the world's second largest economy from falling too sharply, say analysts at Bank of America Merrill Lynch in what they describe as the "Li Keqiang put."
The phrase stems from the "Bernanke put," a term used to describe an implied floor under the market created by Federal Reserve Chairman Ben Bernanke maintaining aggressive monetary stimulus.
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In the context of China, where data on Monday showed the economy slowed for a second straight quarter, the "Li Keqiang put" means that China's premier is likely to take some action to make sure Beijing achieves its 7.5 percent growth target for 2013.
"The 'Li Keqiang put' means that in the first couple of years, Premier Li will try to prevent a growth hard-landing and a financial crisis," said analysts at BofA Merrill Lynch in a note.
"That's why we expect Li's cabinet will introduce some measures to arrest the growth slowdown (in year-on-year terms) in the next couple of quarters," they added, saying that they expect growth-supportive measures such as infrastructure projects that can be used to fight pollution and encourage the growth of consumption.
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Li Keqiang, the man in charge of China's economy, formally became Chinese premier in March and will hold the post for the next 10 years.
So far China's new leaders have expressed a tolerance for a slowing economy as China makes a shift away from a reliance on exports and dependence.