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CHINA: Vice Chairman of Think Tank Expects New Stimulus in Next Week’s Budget.

CHINA
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  • China’s general public spending increased by 2% in the nine months to September whilst government spending declined by 9%, noted Wang Yiming at the Greater Bay Area Finance Forum in Shenzhen hosted jointly by the Renmin University and the IMF.
  • This 7% differential could see an adjustment to the national budget plan by at least CNY1.5 yet Wang of the China Centre for International Economic Exchange suggested that new issuance has potential to be far in excess of that.
  • He noted that the ‘monetary easing package announced by the PBOC at the end of September has played a crucial role in boosting market confidence.  However without follow up fiscal support, the recent market rally may prove difficult to sustain.”
  • The IMF has recently cut its forecast for GDP growth in China to 4.8%, below the target set by the government.
  • Next week the meeting of the National People's Congress begins where lawmakers may address the budget shortfall and announce new funding and issuance targets. 
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  • China’s general public spending increased by 2% in the nine months to September whilst government spending declined by 9%, noted Wang Yiming at the Greater Bay Area Finance Forum in Shenzhen hosted jointly by the Renmin University and the IMF.
  • This 7% differential could see an adjustment to the national budget plan by at least CNY1.5 yet Wang of the China Centre for International Economic Exchange suggested that new issuance has potential to be far in excess of that.
  • He noted that the ‘monetary easing package announced by the PBOC at the end of September has played a crucial role in boosting market confidence.  However without follow up fiscal support, the recent market rally may prove difficult to sustain.”
  • The IMF has recently cut its forecast for GDP growth in China to 4.8%, below the target set by the government.
  • Next week the meeting of the National People's Congress begins where lawmakers may address the budget shortfall and announce new funding and issuance targets.