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||3.13||-0.11 %||Feb 19|
|Exchange Rate||6.76||-0.19 %||Feb 19|
|Stock Market||2,756||-0.34 %||Feb 19|
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February 15, 2019
In January, Chinese banks distributed CNY 3.23 trillion (USD 477 billion) in new yuan loans, the highest print on record.
February 14, 2019
Consumer prices rose 0.5% from the previous month in January, following December’s flat reading.
February 14, 2019
In January, exports expanded 9.1% over the same month last year, which contrasted the 4.4% drop in December.
January 31, 2019
The manufacturing purchasing managers’ index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) inched up from 49.4% in December to 49.5% in January.
January 21, 2019
In December, nominal retail sales grew 8.2% on an annual basis, a slight acceleration from the 8.1% expansion registered in November.