China eyes fresh stimulus as 2024 growth goal seen at risk
Stimulus may focus more on boost consumer demand
C.bank likely to ease policy after Fed rate cut
More steps needed to lift economy out of deflationary spiral

BEIJING, Sept 19 Reuters Chinese policymakers will likely step up measures to at least help the economy meet an increasingly challenging growth target for 2024, analysts and policy advisers say, with a sharper focus on boosting demand to fight persistent deflationary pressures.

Official data showed the world39;s secondlargest economy slowed broadly in August, fuelling expectations for more stimulus. President Xi Jinping recently urged authorities to strive to meet the country39;s annual economic goals, signalling Beijing remains committed to hitting its around 5 GDP growth target.

Policymakers are navigating a complicated economic landscape, with China39;s reliance on infrastructure spending to drive growth exacerbating debt risks. Excessive domestic investment amid weak demand has also fuelled deflationary pressures, which have already pushed down prices and forced companies to reduce wages or fire workers to cut costs.

We need to strengthen fiscal policy, which is more effective at addressing deflation, while adjusting monetary policy further to keep it accommodative, a policy adviser said on condition of anonymity.

The Federal Reserve39;s interest rate cut on Wednesday, which began the U.S. easing cycle, will create more space for the People39;s…