Premier Li Keqiang announced details of a new economic stimulus plan at the National People’s Congress on Friday. Photo: Reuters

Coronavirus: China unveils US$500 billion fiscal stimulus, but refrains from going all-in

  • China will increase its budget fiscal deficit to a record 3.6 per cent of gross domestic product this year, up from 2.8 per cent in 2019
  • Beijing will also issue special treasury bonds for the first time since 2007 and increase the local government bond quota as it fights the pandemic
Topic |   China economy
Premier Li Keqiang announced details of a new economic stimulus plan at the National People’s Congress on Friday. Photo: Reuters
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