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||3.58||-0.11 %||Oct 18|
|Exchange Rate||6.94||-0.19 %||Oct 18|
|Stock Market||2,486||-0.34 %||Oct 18|
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October 19, 2018
Industrial production expanded 5.8% annually in September, down from 6.1% in August and missing market expectations of 6.0%. September’s print mainly reflected a slowdown in manufacturing output, while the electricity generation and mining sectors recorded steeper growth than in August. On a month-on-month basis, industrial production increased 0.50% in seasonally-adjusted terms in September, down from August’s 0.53% expansion.
China: Investment growth turns around in September; a slight reprieve following a six-month slowdown
October 19, 2018
Urban fixed asset investment in China expanded 5.4% annually in the first nine months of the year, up marginally from the 5.3% increase in the first eight months of the year, which had been the weakest print since the early 1990s.
October 17, 2018
In September, Chinese banks distributed CNY 1.38 trillion (USD 199 billion) in new yuan loans, up from the CNY 1.28 trillion distributed in August and slightly above market expectations of CNY 1.35 trillion.
October 16, 2018
Consumer prices rose 0.7% from the previous month in September, matching August’s result.
October 12, 2018
Export growth accelerated from 9.8% in August to 14.5% in September.