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

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