CHINESE AUTHORITIES HAVE agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, two sources said, which would be the highest on record, as Beijing ramps up fiscal stimulus to revive a faltering economy.
The plan for 2025 sovereign debt issuance would be a sharp increase from this year's 1 trillion yuan and comes as Beijing moves to soften the blow from an expected increase in US tariffs on Chinese imports when Donald Trump takes office in January.
The proceeds will be targeted at boosting consumption via subsidy programmes, equipment upgrades by businesses and funding investments in innovation-driven advanced sectors, among other initiatives, said the sources.
The sources, who have knowledge of the discussions, declined to be identified due to sensitivity of the matter.
This story is from the December 25, 2024 edition of Financial Express Chennai.
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This story is from the December 25, 2024 edition of Financial Express Chennai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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