China’s economy fell by 6.8 per cent in the first quarter of the year, its first decline since comparable records began. Photo: EPA-EFE China’s economy fell by 6.8 per cent in the first quarter of the year, its first decline since comparable records began. Photo: EPA-EFE
China’s economy fell by 6.8 per cent in the first quarter of the year, its first decline since comparable records began. Photo: EPA-EFE
Economy /  China Economy

Coronavirus: China should raise US$700 billion from special bonds to kick-start economy, top adviser says

  • Massive fundraising effort necessary to offset ‘unprecedented’ impact of coronavirus pandemic, says Liu Shangxi, president of the Chinese Academy of Fiscal Sciences
  • People’s Bank of China should buy the ‘risk-free’ bonds at zero interest and then sell them on at a later date, he says

Topic |   Coronavirus pandemic
Amanda Lee
Amanda Lee in Beijing

Updated: 9:25am, 4 May, 2020

Why you can trust SCMP
China’s economy fell by 6.8 per cent in the first quarter of the year, its first decline since comparable records began. Photo: EPA-EFE China’s economy fell by 6.8 per cent in the first quarter of the year, its first decline since comparable records began. Photo: EPA-EFE
China’s economy fell by 6.8 per cent in the first quarter of the year, its first decline since comparable records began. Photo: EPA-EFE
READ FULL ARTICLE