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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -3.4 | -3.8 | -3.7 | -4.1 | -4.9 |
China Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.17 | -0.40 % | Dec 31 |
| Exchange Rate | 6.96 | -0.19 % | Jan 01 |
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Economic News
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China: House prices remains broadly unchanged in June
July 16, 2022
House prices in 70 large- and medium-sized cities were unchanged month-on-month in June, according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS), following May’s 0.1% decrease.
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China: Cumulative nominal fixed investment growth eases in January–June, but picks up in June
July 15, 2022
Nominal urban fixed asset investment grew 6.1% in year-to-date terms in June (May: +6.2% yoy).
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China: Economy records weakest growth reading since Q1 2020 in Q2
July 15, 2022
GDP growth waned to 0.4% year on year in the second quarter, from 4.8% in the first quarter.
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China: Industrial output growth picks up pace in June
July 15, 2022
Industrial production rose 3.9% year on year in June (May: +0.7% yoy).
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China: Retail sales rebound in June
July 15, 2022
Retail sales grew 3.1% year on year in June (May: -6.7% yoy).
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