CHINA'S FINANCE MINISTER:
🔸Local debt risks are under control
🔸Fiscal revenue will be lowered than expected, but able to meet budget targets this year
A basket of fiscal policy measures
🔸Significantly increase government debt.
🔸Will issue special treasury bonds to replenish state banks capitals
🔸Use local debt and other tools to support property market
🔸Increases subsidier for low-income people and students to boost consumptions
🔸Studying more counter-cylical measures
🔸Government has big room to increase debt
🔸Fiscal revenue will be lowered than expected, but able to meet budget targets this year
A basket of fiscal policy measures
🔸Significantly increase government debt.
🔸Will issue special treasury bonds to replenish state banks capitals
🔸Use local debt and other tools to support property market
🔸Increases subsidier for low-income people and students to boost consumptions
🔸Studying more counter-cylical measures
🔸Government has big room to increase debt
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Cui Nyonya Kueh :
Mister President : All good news. Bull has officially entered the market.
Markio1315 : market will shit on Monday.. no concrete numbers, no shots in the arm. All fluffy talk
UNO Wild Card Markio1315 : You stupid? 2.3 trilion just by end of 2024 and more in next 1 to 2 years. Reaching 10 trilion stimulus
103894892 : Holland liao
Btan UNO Wild Card : This exceed market’s expectations. They expect only RMB 2 T
Markio1315 : Market is expecting more.. His non committal answer to Reuters says a lot. Of course market can interpret positively but I doubt
Btan Markio1315 : Go read the news. Market expects 2T. Already exceeded
Markio1315 Btan : it's just 2T. Already says market expecting more not just exceed. No concrete plans to boast consumer spending.. just pray it's not a bloodbath on Monday.
102566976 : just putting a note that all numbers mentioned within this post are in RMB. US$1=7ish RMB
Also the 2.3T RMB quoted are funds for the local Chinese government to tap on by the end of 2024, seemly only for the purchase of unsold housing inventories from developers. It is NOT a fresh stimulus.
Source: Bloomberg - Are you a robot?