Official announcements from Chinese government or state media

China Plans 4 Trillion Yuan Fiscal Stimulus to Boost Economy

Oct 14, 2024, 08:39 AM

China is preparing to introduce new fiscal measures to stimulate its economy, which has been struggling. The state-owned rating company, Golden Credit Rating, expects the latest fiscal policy to inject no less than 4 trillion yuan ($565.3 billion) into the economy. This move is anticipated to push the fourth-quarter GDP growth above 5.0%. Analysts predict that by the end of the year, the fiscal stimulus could reach 4 to 5 trillion yuan, with a total multi-year package potentially amounting to 10 trillion yuan. The fourth-quarter GDP growth is expected to surpass 5.0%.