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 | 3.68 | -0.40 % | Sep 14 |
| Exchange Rate | 6.87 | -0.19 % | Sep 14 |
| Stock Market | 2,682 | -0.34 % | Sep 14 |
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Economic News
China: House prices increase at fastest pace in nearly two years in August
September 15, 2018
House prices in 70 large- and medium-sized cities rose 1.4% in August 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: Industrial production broadly stable in August
September 14, 2018
Industrial production expanded 6.1% annually in August, slightly above July’s 6.0% and matching market expectations. August’s print reflected an acceleration in electricity generation and mining output, while manufacturing production growth edged down. On a month-on-month basis, industrial production increased 0.52% in seasonally-adjusted terms in August, above July’s 0.47% expansion.
China: Free fall in investment growth continues in August
September 14, 2018
Urban fixed asset investment in China expanded 5.3% annually in the first eight months of the year, marking the lowest print on record since the early 1990s.
China: Growth in retail sales accelerates timidly in August
September 14, 2018
In August, nominal retail sales grew 9.0% on an annual basis, a slight acceleration from the 8.8% expansion registered in July.
China: Money and credit data paint a mixed picture in August
September 12, 2018
In August, Chinese banks distributed CNY 1.28 trillion (USD 190 billion) in new yuan loans, down from the CNY 1.45 trillion distributed in July but above market expectations of CNY 1.04 trillion.
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