China to issue $284 billion of sovereign debt this year to help revive economy
- China to issue 1 trillion yuan of special bonds mainly to stimulate consumption-sources
- China to issue another 1 trillion yuan via special bonds to help local governments tackle debt problems-source
- Some of the fiscal support measures could be unveiled as early as this week-sources
GROWTH TARGET IN FOCUS
Chinese leaders pledged on Thursday to push to hit the 2024 economic growth target of roughly 5% and stop declines in the housing market, state media reported, citing a Politburo meeting.
However
The planned fiscal expansion is the latest attempt by Chinese policymakers to revive an economy grappling with deflationary pressures and in danger of missing this year's growth target due to a sharp property downturn and frail consumer confidence.