China stimulus report has the right number but the details are all wrong ...Middle East

The market has been patiently waiting for news on Chinese fiscal stimulus after the finance ministry hinted it was coming following a range of moves to boost financial markets.Today in a report from Reuters, we got a strong sense of what's coming. The report says that after a Nov 4-8 series of meetings, that officials will announce a 10 trillion yuan ($1.4 trillion) package. That's 8% of GDP and a number that many analysts were looking for.Unfortunately, the details of the package are weaker than hoped. Firstly, the spending will be spread over three years 2024, 2025 and 2026. Secondly, 6 trillion yuan of that, or 60%, is earmarked for helping local governments with their debt. That raises

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Last updated : 29 October 2024 clock 09:36 PM

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China stimulus report has the right number but the details are all wrong ...Middle East

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