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 | 3.50 | -0.40 % | Nov 09 |
| Exchange Rate | 6.96 | -0.19 % | Nov 09 |
| Stock Market | 2,599 | -0.34 % | Nov 09 |
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Economic News
China: Inflation stabilizes in October
November 9, 2018
Consumer prices rose 0.2% from the previous month in October, down from September’s 0.7% increase.
China: Export growth accelerates in October to beat higher tariffs in 2019
November 8, 2018
Export growth accelerated from 14.5% in September to 15.6% in October.
China: Manufacturing PMI falls to an over two-year low in October
October 31, 2018
The manufacturing purchasing managers’ index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) inched down to an over two-year low of 50.2% in October from 50.8% in September.
China: Growth in house prices decelerates in September
October 20, 2018
House prices in 70 large- and medium-sized cities rose 0.9% in September 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: The weakest performance since the financial crisis in the third quarter spells sharper Chinese slowdown
October 19, 2018
The Chinese economy decelerated further in the third quarter as the effects of aggressive financial deleveraging bogged down growth.
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