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China's fiscal expenditure will rise in H2 as revenues increase, helping

speed up infrastructure construction and investment and further assisting

recovery in the manufacturing sector and among SMEs, the China

Securities Journal reported citing analysts. Spending in H1 fell

5.8% y/y, below the growth target of 3.8% for this year set by

the government, leaving space for more proactive fiscal policies

in H2, the newspaper said citing Zhu Jianfang, chief economist of

CITIC Securities. New local government special bonds and special

Treasury bonds issued in Q2 and Q3 will be used mainly in H2,

the newspaper said citing Wang Qing, chief macro analyst at Golden

Credit Rating.

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