China to issue $284 billion of sovereign debt this year to help revive economy \ stacker news ~econ

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China to issue $284 billion of sovereign debt this year to help revive economy www.reuters.com/markets/asia/china-issue-284-bln-sovereign-debt-this-year-help-revive-economy-sources-say-2024-09-26/

563 sats \ 10 comments \ @Coinsreporter 26 Sep econ

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.

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84 sats \ 0 replies \ @Golu 26 Sep

This won't be enough. China at least require a trillion to revive its economy for real.

53 sats \ 4 replies \ @Satosora 26 Sep

I was just reading on reddit they might be putting some of that into bitcoin. I dont know how honest that is.

41 sats \ 3 replies \ @Coinsreporter OP 26 Sep

First of all Reddit is just a crap and this news about investing in Bitcoin is an example. Another thing, Bitcoin is for individual, it's not for governments. So, basically, until you aren't out of that crap, you'll get baseless things in your mind.

33 sats \ 2 replies \ @Satosora 26 Sep

Reddit is crap? I enjoy seeing the chaos on there.

20 sats \ 1 reply \ @gmd 27 Sep

I still like reddit as they have a larger critical mass for non-bitcoin topics I enjoy.

99 sats \ 0 replies \ @Satosora 27 Sep

I enjoy seeing all the ideas. I enjoy SN, too. They are different beasts.

30 sats \ 0 replies \ @IamSINGLE 26 Sep

Alright, China is just trying show off once again that it's economy still has a lot of gas left. But it's the reverse on reality.

20 sats \ 1 reply \ @Cje95 26 Sep

India is also issuing a pretty huge amount of debt for them in 6.6 trillion rupees or ~$80 billion in the next few months. Seems like everyone is now trying to restart their economies with government lending like the US did in the prior years.

0 sats \ 0 replies \ @Coinsreporter OP 26 Sep

That's true but India's purpose is not the same as China's. As you said everyone is trying to restart their economies, I don't think India needs to stimulate its economy, at leat not now.

20 sats \ 0 replies \ @Thereal 26 Sep

Africa to face another debts from China can't they fix it with Bitcoin!?😑