Fiscal Balance in China
China - Fiscal Balance
Authorities resort to fiscal stimulus to stem economic slowdown
The Chinese government has speeded up the approval of new investment projects in an attempt to fuel economic growth, as sluggishness in the global economy and a subsequent domestic slowdown have started to take their toll. The National Development and Reform Commission (NDRC) has already approved 868 large investment projects in the first four months of 2012, compared to just 363 in the same period last year. According to local media, the NDRC approved more than 110 projects on 21 May alone. The new investment approvals encompass most sectors, including clean energy, transport, industrial modernization and rural infrastructures. Moreover, on 16 May, the State Council granted consumption subsides of CNY 26.5 billion (USD 4.2 billion) to purchase household appliances and CNY 6 billion (USD 949 million) to buy fuel-saving vehicles. Analysts estimate that the new measures will amount to between CNY 1 trillion (USD 158 billion) and CNY 2 trillion (USD 316 billion). That said, the NDRC has ruled out the possibility of a new round of economic stimulus measures of the magnitude of those implemented in 2008/2009, when China launched a massive CNY 4 trillion stimulus package (around 11% of GDP).
China - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-1.9||-1.8||-3.4||-3.8||-3.7|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||3.30||-0.11 %||Dec 11|
|Exchange Rate||6.90||-0.19 %||Dec 11|
|Stock Market||2,594||-0.34 %||Dec 11|
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December 11, 2018
In November, Chinese banks distributed CNY 1.25 trillion (USD 182 billion) in new yuan loans, well above the CNY 697 billion distributed in October and market expectations of CNY 1.11 trillion.
December 11, 2018
Consumer prices fell 0.3% from the previous month in November, contrasting October’s 0.2% increase and marking the lowest print in eight months.
December 8, 2018
Export growth decelerated from 15.6% in October to 5.4% in November.
November 30, 2018
The manufacturing purchasing managers’ index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) edged down to an over two-year low of 50.0% in November from 50.2% in October, undershooting market expectations of a stable 50.2% reading.
November 15, 2018
House prices in 70 large- and medium-sized cities rose 1.0% in October in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS).