China may raise an additional 6 trillion yuan ($850 billion) from special treasury bonds over three years to stimulate the economy.
Written by UNN with a link to Reuters.
China may raise $850 billion in new debt within three years. This is stated in a report by Caixin Global, which cites knowledgeable sources.
The funds will be partially used to help local governments ease the burden of off-balance sheet debt.
On Saturday, Finance Minister Lan Foan hinted that the central government has the ability to increase borrowing. But the official did not specify the main figure.
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Last month, Reuters reported that China plans to issue special sovereign bonds worth about 2 trillion yuan ($285 billion) in 2024 as part of a new fiscal stimulus.
It is pointed out that China is still unable to achieve the planned growth of about 5% for this year and will try to fight deflationary pressures. This is evidenced by data from recent months, including trade data on Monday.