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 | 16.3 |
China Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.11 | -0.40 % | Jan 16 |
| Exchange Rate | 6.76 | -0.19 % | Jan 16 |
| Stock Market | 2,570 | -0.34 % | Jan 16 |
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Economic News
China: Economic growth continues to decelerate in Q4
January 21, 2019
In the final quarter of 2018, the Chinese economy expanded at the slowest pace since 2009 on the back of spillovers from financial deleveraging and downbeat economic sentiment due to the trade spat with the United States.
China: Growth in retail sales inches up in December
January 21, 2019
In December, nominal retail sales grew 8.2% on an annual basis, a slight acceleration from the 8.1% expansion registered in November.
China: Industrial production gains steam in December
January 21, 2019
Industrial production increased 5.7% year-on-year in December, up from the 5.4% rise registered in November and beating market expectations of 5.3%. December’s print marked a modest acceleration, as growth in the mining sector accelerated markedly in annual terms compared to the previous month.
China: Investment growth steadies in December
January 21, 2019
Urban fixed asset investment expanded 5.9% in 2018, unchanged from the result in the first 11 months of the year (2017: +7.2%).
China: Authorities set to boost fiscal and monetary stimulus in efforts to rekindle economic growth
January 18, 2019
Chinese authorities will implement further fiscal and monetary measures this year to tackle cooling domestic growth and spillovers from the ongoing trade war with the U.S. On 19–21 December, China’s top leadership met in Beijing at the annual Central Economic Work Conference (CEWC), which sets the tone of economic policies for the year. The top leadership emphasized that they will use “counter-cycle” macro policies to stabilize aggregate demand.
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