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
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -1.8 | -3.4 | -3.8 | -3.7 | -4.1 |
China Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.17 | -0.40 % | Dec 31 |
| Exchange Rate | 6.96 | -0.19 % | Jan 01 |
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Economic News
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China: New yuan loans reach a record high in January, while M2 growth decelerates
February 20, 2020
In January, Chinese banks distributed CNY 3.34 trillion (USD 476 billion) in new yuan loans.
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China: Growth in house prices eases in January
February 17, 2020
House prices in 70 large- and medium-sized cities rose 0.2% in January in month-on-month terms according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS).
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China: Inflation surges in January due to Chinese New Year holidays and coronavirus outbreak
February 10, 2020
Consumer prices rose 1.4% over the previous month in January, well above December’s flat reading.
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China: Manufacturing PMI falls in January
January 30, 2020
The manufacturing Purchasing Managers’ Index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) fell from December’s 50.2% to 50.0% in January.
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China: Skepticism abounds despite U.S.-China “phase one” trade deal
January 23, 2020
On 15 January, the United States and China signed off on a “phase one” trade deal, as had been expected.
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