Two Sessions: How are China’s local gov’ts responding to GDP growth drive?

Two Sessions: How are China’s local gov’ts responding to GDP growth drive?

At the national Two Sessions meetings on 5-11 March, China announced plans to stimulate the economy, end local protectionism, and develop the AI sector. The government kept the same 5% GDP growth target it has had for the last two years. In efforts to boost consumption and help reach this target, it is issuing CNY 300 billion (USD 41 billion) of special treasury bonds. The money raised will go toward subsidising people to buy replacement electri…