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 | 3.08 | -0.40 % | Sep 04 |
| Exchange Rate | 7.15 | -0.19 % | Sep 04 |
| Stock Market | 2,957 | -0.34 % | Sep 04 |
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Economic News
China: Credit conditions improve in August
September 11, 2019
In August, Chinese banks distributed CNY 1.21 trillion (USD 170 billion) in new yuan loans.
China: Inflation stabilizes in August
September 10, 2019
Consumer prices rose 0.7% from the previous month in August, following July’s 0.4% increase.
China: Exports drop in August as shipments to the U.S. nosedive
September 8, 2019
In August, exports fell 1.0% over the same month last year.
China: Manufacturing PMI in negative territory for fourth consecutive month in August
August 31, 2019
The manufacturing Purchasing Managers’ Index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) decreased to 49.5% in August from July’s 49.7%.
China: New tariffs to hit certain Chinese exports from 1 September, but some delayed until December
August 20, 2019
While initially threatening to slap a 10% tariff on the remaining USD 300 billion of imports from China, U.S. President Donald Trump partially backed down in mid-August by postponing imposing tariffs on a list of consumer goods from 1 September to 15 December.
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