China’s Central Government Steps Up Spending to Bolster Economy

(Bloomberg) — China’s central government accelerated spending at the start of the year, a sign it is taking on more financing responsibility to support the economy and avoid worsening local government debt risks.

Its general public expenditure jumped 14% from a year earlier to 482.8 billion yuan ($67 billion) in January and February combined, the fastest pace for the period in five years, according to data provided by the Ministry of Finance.