Public Debt in China
China - Public Debt
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 - Public Debt Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Public Debt (% of GDP) | 14.6 | 14.9 | 15.5 | 16.2 | 16.4 |
China Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.18 | -0.40 % | Jul 31 |
| Exchange Rate | 6.88 | -0.19 % | Jul 31 |
| Stock Market | 2,933 | -0.34 % | Jul 31 |
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Economic News
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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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House prices in 70 large- and medium-sized cities rose 0.6% in July 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 growth plunges to 17-year low in July
August 14, 2019
Industrial production increased 4.8% year-on-year in July, down from June’s 6.3% expansion.
China: Investment growth eases in January–July
August 14, 2019
Urban fixed asset investment expanded 5.7% year-to-date in July, slightly below the 5.8% increase in January–June and market expectations of a 5.8% increase. The result reflected a stronger contraction in the primary sector while growth in the tertiary sector slowed; however, investment growth in secondary sector accelerated.
China: Retail sales slow in July
August 14, 2019
In July, nominal retail sales grew 7.6% on an annual basis, down from the 9.6% increase in June and below market expectations of 8.6%.
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