China unveiled a 10 trillion yuan ($1.40 trillion) debt package on Friday to ease local government financing strains and stabilize flagging economic growth, as it faces fresh pressure from the re-election of Donald Trump as US president.
The measures confirm last week's Reuters report, and mark a departure from the all-out stimulus strategies to revive growth China has deployed in the past. They aim to repair municipal balance sheets as a longer-term objective, rather than directly inject money into the economy.
Finance Minister Lan Foan said more stimulus was coming, with some analysts saying Beijing may not want to fire all its weapons before Trump takes over officially in January.
In an apparent reaction to the US election and the intensifying risks to trade, state media CCTV reported that China's cabinet on Friday approved expanding coverage of export credit insurance and will step up support for trade firms.
But for now, those investors who speculated on a fiscal bazooka may be disappointed.
هذه القصة مأخوذة من طبعة November 09, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 09, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Trim exposure if it exceeds 20%, avoid complete exit
Smallcap funds have declined 21.6 per cent over the past three months.
Power planning
Proactive management should avert shortages
Brics+ Unit: Is it a bridge too far?
With global economic shifts underway, India should keep its options open on emerging alternatives to the dollar
Will Invest $60-$65 Billion on AI in 2025
Coming back to the subject of age-related content, countries across the world have become more conservative as far as the use of social media by teenagers and users below the age of 18 is concerned.
Infra status to hotels will drive growth: Marriott CEO
Marriott's bullish outlook follows strong performance in South Asia, where revenue per available room (RevPAR) grew by 11 per cent last year, driven by higher average daily rates (ADR) and occupancy.
I-T Bill may lead to increased tax burden on LLPs
The Income-Tax (I-T) Bill, 2025, has broadened the scope of the alternative minimum tax (AMT) applicable to taxpayers other than companies, potentially increasing the tax burden on partnership firms and limited liability partnerships (LLPs) with long-term capital gains (LTCG).
Employees' Salaries Grew at 11% CAGR in 10 Yrs: FM
Sitharaman says factors of production being reset after pandemic
Europe: The view from the periphery
Rakesh Batabyal has published his book at the right moment, when the European and global order created after the fall of the outer Soviet Empire in 1989 and of the Soviet Union in 1991 has broken down.
How BYD's 5-min charging stacks up against competition
BYD Co unveiled a new system for electric cars that the Chinese automaker says will allow them to charge almost as fast as it takes a regular car to refuel.
Supply chain issues likely to hit aircraft deliveries for 4-5 years: Air India CEO
Aircraft supply to airlines will remain constrained during the next four to five years due to the supply chain issues being faced by plane makers Airbus and Boeing and there is not much that carriers can do beyond optimising their flight network expansion, Air India CEO and MD Campbell Wilson said on Tuesday.
