China slipped into deflation in 2023 as a result of weak domestic demand and a struggling property market.
China has announced plans to ramp up government debt issuance in a bid to boost its economy.
In a press briefing in Beijing on Saturday, China’s minister of finance Lan Fo’an outlined a new package of fiscal policy measures designed to help local governments tackle debt problems, spur the property market, and replenish banks’ capital.
«We will increase support for local governments in resolving government debt risks, increase debt limits on a larger scale, and support local governments in resolving hidden debts», he said.
