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 | 3.17 | -0.40 % | Mar 11 |
| Exchange Rate | 6.73 | -0.19 % | Mar 11 |
| Stock Market | 3,027 | -0.34 % | Mar 11 |
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Economic News
China: Growth in house prices inches down in February
March 15, 2019
House prices in 70 large- and medium-sized cities rose 0.5% in February 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: Top leadership lowers GDP growth target as the country faces “tough” economic challenges ahead
March 15, 2019
China’s top leadership expects a challenging year amid cooling domestic growth and the trade dispute with the United States as highlighted by the annual gathering of the National People’s Congress’ (NPC), which ran from 5 to 15 March.
China: Retail sales growth stabilizes in January–February
March 14, 2019
In January–February, nominal retail sales grew 8.2% on an annual basis, unchanged from December’s reading.
China: Industrial production loses momentum at the outset of the year
March 14, 2019
Industrial production increased 5.3% year-on-year in January–February, down from the 5.7% rise registered in December.
China: Investment growth inches up in January–February
March 14, 2019
Urban fixed asset investment expanded 6.1% year-to-date in the first two months of the year, slightly above the 5.9% increase in 2018 and the highest reading since May 2018.
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