China Makes Fiscal-Policy Nudge, Not a U-Turn
China’s pledge to lower corporate taxes and encourage infrastructure projects amounts to a fiscal nudge to counter slowing economic growth, not a policy U-turn or a relaxation of controls on local government spending, analysts said.
The State Council said Monday that China would take a more active fiscal policy posture and pledged to accelerate local governments’ special bond issuance for infrastructure projects. Chinese stocks rallied higher Monday on speculation of a large-scale policy easing.
- 1Opinion: Sacrificing Half the World’s People Undercuts ‘The Wandering Earth’s’ Humanistic Message
- 2Two Large Chinese Borrowers Are Said to Miss Bond Payments
- 3China Biz Roundup Podcast: Factory Inflation Stalls, iPhone Discounts, and Private Kindergarten Closures
- 4Holiday Spending Bodes Poorly for China’s Economy This Year
- 5Indebted Chinese Investment Firm Turns to Thai Conglomerate for New Co-Chairman
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas