China announces huge debt package ahead of ‘forceful’ stimulus

China announces huge debt package ahead of ‘forceful’ stimulus

From think.ing.com

China's National People's Congress concluded its week-long meeting on Friday with a press conference with the Ministry of Finance announcing RMB10tn of new measures to alleviate local government debt issues. There are also plans for new fiscal stimulus. The meetings were pushed to this week from October, allowing policymakers to be more agile with the major catalysts from the US election and Thursday's FOMC meeting. The nature and proposed scale of the measures announced were well signalled through media reports ahead of time, and ultimately, the scale of the package came in line with expectations. The meeting voted ... (full story)

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