China ramps up fiscal push to meet growth target
12 Articles
12 Articles
Beijing Lets Local Governments Tap 550 Billion Yuan in Unused Debt Quotas
Beijing Lets Local Governments Tap 550 Billion Yuan in Unused Debt Quotas - The ministry will direct 300 billion yuan to county and district budgets and 250 billion yuan to infrastructure, as policymakers step up efforts to support the economy
China's leadership has loosened up new financial resources to boost the economy. Beijing released untapped state loan contingents worth 550 billion yuan (73.45 billion euros) on Friday to support local government finances and expand investment in infrastructure. Thus, the Chinese government in Beijing is stepping up its support for an economy that is struggling with weak consumption and low investment activity.The move appears to also serve to s…
The Chinese Communist Party's fiscal revenue and expenditure are already out of balance. Analysts point out that China's economic predicament is becoming increasingly severe, and the authorities' actions are far from sufficient. The photo shows Beijing on June 6, 2014. (Greg Baker/AFP/Getty Images)
China Allocates $82 Billion to Support Economy Amid Growth Target Challenges
China has allocated 550 billion yuan ($82 billion) in unused government debt quotas to bolster local government finances and enhance infrastructure investment. This move comes as the country aims to achieve a growth target of 4.5% to 5% amidst weak consumption and investment trends. Despite a surge in high-tech sectors and goods exports, the economy has faced setbacks due to subdued domestic demand and a prolonged property market downturn. Of th…
Measure was taken after a series of weak economic indicators that increased pressure on efforts to achieve this year's growth target, from 4.5% to 5%
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