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MNI BRIEF: China Should Provide Wider Support: Advisor

MNI (Sydney)
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China should widen its level of support to more groups because those who are able to benefit from the current tax cuts and car purchase subsidies are not the groups most in need of a bailout, Yicai.com reported citing Huang Yiping, a former adviser to the People’s Bank of China.

China may consider issuing special treasury bonds to support the economic activities of the difficult groups, Huang was cited as saying. Some analysts expect Q3 may be an important window for launching the issuance of these bonds with an expected scale between CNY1-2 trillion, the newspaper said.

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China should widen its level of support to more groups because those who are able to benefit from the current tax cuts and car purchase subsidies are not the groups most in need of a bailout, Yicai.com reported citing Huang Yiping, a former adviser to the People’s Bank of China.

China may consider issuing special treasury bonds to support the economic activities of the difficult groups, Huang was cited as saying. Some analysts expect Q3 may be an important window for launching the issuance of these bonds with an expected scale between CNY1-2 trillion, the newspaper said.