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
|Fiscal Balance (% of GDP)||-1.9||-1.8||-3.4||-3.8||-3.7|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||3.32||-0.40 %||May 13|
|Exchange Rate||6.88||-0.19 %||May 13|
|Stock Market||2,904||-0.34 %||May 13|
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May 20, 2019
The trade war between China and the United States worsened in recent weeks with both countries imposing new tariffs on one other in May and the U.S. threatening to slap tariffs on all remaining Chinese imports.
May 16, 2019
House prices in 70 large- and medium-sized cities rose 0.6% in April 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).
May 15, 2019
In April, nominal retail sales grew 7.2% on an annual basis, which represented the weakest reading since 2003.
May 15, 2019
Industrial production increased 5.4% year-on-year in April, well below the 8.5% rise registered in March.
May 15, 2019
Urban fixed asset investment expanded 6.1% year-to-date in April, below the 6.3% increase in January–March.