China unveils 10tn yuan support for debt-stricken local government
Cash stops short of hoped-for ‘bazooka option’, with critics calling it ‘an accounting exercise’ that will not bolster growth
China has announced 10tn yuan in debt support for local governments and other economic measures, but stopped short of the “bazooka” stimulus package that many analysts had expected.
The fiscal package included raising debt ceilings for local governments by 6tn yuan (£646bn) over three years, so they could replace hidden debt, which authorities said stood at 14.3tn yuan by the end of 2023.
Continue reading...
Read more at The Guardian
-
China announces $1.4 trillion package over five years to tackle local governments' 'hidden' debt
Business - CNBC - November 8 -
China approves $840B plan to refinance local government debt, boost slowing economy
World - ABC News - November 8 -
Why China is betting on local governments to spur the economy
World - Financial Times - November 11 -
China Reveals $1.4 Trillion Plan to Bail Out Local Governments
Business - The New York Times - November 8 -
China Moves to Ease Debt Concerns---but Again Holds Off on Stimulus Measures
World - The Wall Street Journal - November 8 -
China's president will unveil a megaport in Peru, but locals say they're being left out
World - ABC News - November 14 -
Shares in UK retailers fall as sector counts cost of NICs tax rise – business live
World - The Guardian - November 8
More from The Guardian
-
ICC issues arrest warrant for Benjamin Netanyahu for alleged Gaza war crimes
World - The Guardian - 42 minutes ago -
Ukraine claims Russia fired intercontinental ballistic missile at Dnipro
World - The Guardian - 5 hours ago -
Police report details sexual assault allegations against Pete Hegseth
World - The Guardian - 3 hours ago -
First close-up image of a star outside Milky Way shows supergiant in ‘cocoon’
World - The Guardian - 2 hours ago -
Son of woman killed by IRA condemns ‘cruel’ Disney series
World - The Guardian - 4 hours ago