Free Trial

MNI BRIEF: China To Enhance Fiscal Support Via CGB Issue

MNI (Singapore)
(MNI)Beijing
True

China will strengthen fiscal efforts to boost investment and consumption to support economic recovery, officials of Ministry of Finance told reporters on Thursday in a briefing.

The authorities will maintain an appropriate fiscal expenditure and allocate effectively funds raised by government bonds to bolster investment. They will also increase transfer payments to local governments to ensure expenditure on basic livelihood, medical care and education, the officials said noting preferential fiscal measures, such as fiscal subsidies, interest rate subsidies on loans, and tax incentives, will be used to support key sectors including high technology, upgraded industrial chains and manufacturing. (See MNI: China Stimulus To Keep 2024 Growth Over 5%, Advisors Say)

Keep reading...Show less
134 words

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.

China will strengthen fiscal efforts to boost investment and consumption to support economic recovery, officials of Ministry of Finance told reporters on Thursday in a briefing.

The authorities will maintain an appropriate fiscal expenditure and allocate effectively funds raised by government bonds to bolster investment. They will also increase transfer payments to local governments to ensure expenditure on basic livelihood, medical care and education, the officials said noting preferential fiscal measures, such as fiscal subsidies, interest rate subsidies on loans, and tax incentives, will be used to support key sectors including high technology, upgraded industrial chains and manufacturing. (See MNI: China Stimulus To Keep 2024 Growth Over 5%, Advisors Say)

Keep reading...Show less