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CHINA PRESS: China May Borrow Up To CNY15.4 Trln For 2025 - Analyst

CHINA PRESS
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China’s debt expansion could touch CNY15.4 trillion in 2025, significantly higher than in 2024, Securities Daily reported citing Wang Qing, analysts from Golden Credit Rating. Wang expects Beijing to raise the deficit-to-GDP ratio to 4% from 2024’s 3%, releasing CNY1.3 trillion government spending. While the scale of local government special bonds, including the quota for resolving off-balance-sheet debts, may be expanded to CNY6.5 trillion from 2024’s CNY3.9 trillion. Additional special treasuries could be CNY2.5-3 trillion, including CNY1 trillion for major state-owned banks to replenish core tier 1 capital, Wang added.

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China’s debt expansion could touch CNY15.4 trillion in 2025, significantly higher than in 2024, Securities Daily reported citing Wang Qing, analysts from Golden Credit Rating. Wang expects Beijing to raise the deficit-to-GDP ratio to 4% from 2024’s 3%, releasing CNY1.3 trillion government spending. While the scale of local government special bonds, including the quota for resolving off-balance-sheet debts, may be expanded to CNY6.5 trillion from 2024’s CNY3.9 trillion. Additional special treasuries could be CNY2.5-3 trillion, including CNY1 trillion for major state-owned banks to replenish core tier 1 capital, Wang added.