Free Trial

MNI BRIEF: China Sets 2021 Deficit 3.2%, Ends Pandemic Bonds

MNI (Sydney)

China lowered its budget deficit to about 3.2% of 2021 GDP from "above 3.6%" last year, and won't issue further debt related to fighting the Covid-19 pandemic as the economy resumes its normal course, according to the annual Government Work Report delivered by Premier Li Keqiang at the National People's Congress on Friday.

China will focus on making proactive fiscal policies "more sustainable" and improving quality and efficiency, the report read. The government issued CNY1 trillion in Special Treasury Bonds last year in response to the pandemic.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
True
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.