Reported 11 months ago
According to Chinese Academy of Social Sciences academic committee member Yu Yongding, in order to achieve the GDP growth target of around 5% this year, the central government in China needs to expand its bond issuance and increase fiscal deficits due to the significant shortfall in funding for infrastructure investments. Yu emphasizes the necessity to increase the issuance of government bonds to cover the extensive funding required for infrastructure development, alongside addressing issues with real estate developers' defaults and local debts, all while enhancing monetary policy support for fiscal measures.
Source: YAHOO