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 % | Jul 17 |
| Exchange Rate | 6.71 | -0.19 % | Jul 17 |
| Stock Market | 2,798 | -0.34 % | Jul 17 |
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Economic News
China: Economic growth slides in Q2 on financial deleveraging and amid escalating trade disputes
July 16, 2018
Growth in China lost some steam in Q2, reflecting aggressive financial deleveraging and authorities’ efforts to crack down on shadow banking.
China: Inflation inches up in June
July 10, 2018
Consumer prices fell 0.1% from the previous month in June, continuing the downward trend seen since March.
China: Manufacturing PMI edges down in June
June 30, 2018
The manufacturing purchasing managers’ index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) fell to 51.5% in June from 51.9% in May.
China: Full-blown trade war with the United States edges closer
June 18, 2018
Trade tensions between China and the United States escalated further on 15 June after the two countries announced punitive trade tariffs affecting in total USD 100 billion in bilateral trade.
China: House prices rise at fastest pace in nearly two years in June
June 17, 2018
House prices in 70 large- and medium-sized cities rose 1.0% in June 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).
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