China’s government hopes that increasing the bond issuance limit will kick start local infrastructure projects. Photo: Xinhua
China moves to aid slowing economy by accelerating issue of 1 trillion yuan of local government bonds
- Beijing has brought forward 1 trillion yuan (US$142.3 billion) of the 2020 special purpose bond quota to this year
- The move gives local governments more room to issue debt to fund infrastructure projects that could help prop up China’s slowing economy
Topic |
China economy
China’s government hopes that increasing the bond issuance limit will kick start local infrastructure projects. Photo: Xinhua
China’s 2020 growth rate is widely expected to be below 6 per cent, given growth slipped to 6.0 per cent in the third quarter of this year. Photo: Xinhua
China revises up 2018 GDP after new census, making it easier to double size of economy in 2020
- The National Bureau of Statistics has revised up its 2018 GDP by 2.1 per cent to 91.93 trillion yuan (US$13.1 trillion)
- Upwards revision makes it easier for China to reach goal of doubling the size of its economy between 2010 and 2020 with a lower growth rate next year
Topic |
China economy
China’s 2020 growth rate is widely expected to be below 6 per cent, given growth slipped to 6.0 per cent in the third quarter of this year. Photo: Xinhua