A group of Chinese academics led by People’s Bank of China adviser Huang Yiping has urged Beijing to launch as much as 1.5 trillion yuan (roughly $209 billion) in additional fiscal stimulus over the coming year. The proposal calls for tax relief, targeted transfers and lower interest rates to shore up consumer demand, which has struggled to recover in the face of weak property investment and deflationary pressures. The economists also recommend keeping the renminbi flexible and encouraging banks to cut lending rates, arguing the measures are needed to offset a drag from Washington’s 145% tariff on Chinese imports that took effect in April. While authorities have rolled out piecemeal support for the property market, the latest call signals mounting pressure on policymakers to deploy a broader package to stabilise growth.