Fiscal Balance in China
China - Fiscal Balance
Authorities resort to fiscal stimulus to stem economic slowdown
The Chinese government has speeded up the approval of new investment projects in an attempt to fuel economic growth, as sluggishness in the global economy and a subsequent domestic slowdown have started to take their toll. The National Development and Reform Commission (NDRC) has already approved 868 large investment projects in the first four months of 2012, compared to just 363 in the same period last year. According to local media, the NDRC approved more than 100 projects on 21 May alone. The new investment approvals encompass most sectors, including clean energy, transport, industrial modernization and rural infrastructures. Moreover, on 16 May, the State Council granted consumption subsides of CNY 26.5 billion (USD 4.2 billion) to purchase household appliances and CNY 6 billion (USD 949 million) to buy fuel-saving vehicles. Analysts estimate that the new measures will amount to between CNY 1 trillion (USD 158 billion) and CNY 2 trillion (USD 316 billion). That said, the NDRC has ruled out the possibility of a new round of economic stimulus measures of the magnitude of those implemented in 2008/2009, when China launched a massive CNY 4 trillion stimulus package (around 10% of GDP).
China - Fiscal Balance Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -1.9 | -1.8 | -3.4 | -3.8 | -3.7 |
China Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.18 | -0.40 % | Jul 11 |
| Exchange Rate | 6.87 | -0.19 % | Jul 11 |
| Stock Market | 2,918 | -0.34 % | Jul 11 |
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Economic News
China: Growth in house prices inches down in June
July 15, 2019
House prices in 70 large- and medium-sized cities rose 0.6% in June in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS).
China: Industrial production growth rebounds from May’s multi-year low in June
July 15, 2019
Industrial production increased 6.3% year-on-year in June, above both the 5.2% expansion expected by market analysts and the 5.0% rise registered in May.
China: Investment growth gains steam in January–June
July 15, 2019
Urban fixed asset investment expanded 5.8% year-to-date in June, above the 5.6% increase in January–May.
China: Retail sales expand at fastest pace in 15 months in June
July 15, 2019
In June, nominal retail sales grew 9.8% on an annual basis, marking the fastest acceleration in over one year.
China: Economic growth slumps to near three-decade low in Q2 2019 as U.S. tariffs bite
July 15, 2019
In the second quarter of the year, the Chinese economy expanded at the weakest rate since at least 1992, when the National Bureau of Statistics (NBS) started to publish quarterly data.
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