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Xi Jinping Pledges Sweeping Support for Indebted Local Governments and Tax Reform

Jul 22, 2024, 05:21 AM

Chinese President Xi Jinping has pledged to increase support for local governments and deepen tax reform. This announcement comes as the ruling Communist Party unveiled its long-term economic plan. The sweeping plans include significant measures to bolster the finances of China's indebted local governments, addressing financial stability and competitiveness in the world’s second-largest economy. Xi's commitment to rewiring China's finances aims to shore up balance sheets and help indebted regions.

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Will China's GDP growth rate reach 5% or more by the end of Q4 2024?

Xi Jinping•Communist Party•China•Xi

Resolution / Starting Odds

Yes • 50%

No • 50%

Official GDP reports from the National Bureau of Statistics of China or other reputable financial institutions

Will local government debt in China decrease by the end of 2024?

Xi Jinping•Communist Party•China•Xi

Resolution / Starting Odds

Yes • 50%

No • 50%

Reports from the Ministry of Finance of the People's Republic of China or other financial reports

Will the Chinese government announce new tax reform policies by the end of 2024?

Xi Jinping•Communist Party•China•Xi

Resolution / Starting Odds

No • 50%

Yes • 50%

Official announcements from the Chinese government, news outlets like Xinhua News Agency, or government websites

How will local government debt levels in China change by the end of 2024?

Xi Jinping•Communist Party•China•Xi

Resolution / Starting Odds

Decrease by more than 10% • 25%

Increase • 25%

No significant change • 25%

Decrease by 5-10% • 25%

Reports from the Ministry of Finance of the People's Republic of China or other financial reports

What will be China's GDP growth rate by the end of Q4 2024?

Xi Jinping•Communist Party•China•Xi

Resolution / Starting Odds

GDP growth below 3% • 25%

GDP growth above 5% • 25%

GDP growth between 4% and 5% • 25%

GDP growth between 3% and 4% • 25%

Official economic reports from the National Bureau of Statistics of China or other reputable financial institutions

What will be the outcome of China's tax reform policies by the end of 2024?

Xi Jinping•Communist Party•China•Xi

Resolution / Starting Odds

No significant changes • 25%

Tax increases • 25%

Significant tax cuts • 25%

Moderate tax cuts • 25%

Official announcements from the Chinese government, news outlets like Xinhua News Agency, or government websites