(Beijing Comprehensive News) The British media quoted news that the Chinese government's financial policy remained cautious. It plans to control the deficit rate next year to 3%and may issue special government bonds.
According to Reuters on Friday (December 15), three people familiar with the matter reported that the Chinese leadership agreed at the Central Economic Work Conference this week that the budget deficit in 2024 will be controlled at GDP (GDP) in China (GDP)Within 3%, the lack of part may be supplemented by special government bonds that are not incorporated into deficits to increase fiscal flexibility.Sources revealed that the scale of these bonds may reach 1. trillion yuan (RMB, the same below, S $ 186.8 billion).
China usually keeps the budget deficit rate of 3%or less.In October this year, China announced that in the fourth quarter, the 2023 Treasury bonds were 10 trillion yuan, which is expected to increase the deficit rate from 3%to 3.8%.It is reported that the newly established deficit number is lower than the goal after this year, indicating that Beijing hopes to maintain fiscal discipline, and will not consider the implementation of a large -scale fiscal stimulus policy of "rocket launchers" next year.
For related reports, the State Council of the State Council, the Ministry of Finance, and the National Development and Reform Commission has not commented.However, according to Xinhua News Agency, the Central Economic Work Conference emphasized that it is necessary to continue to implement active fiscal policies and stable monetary policies to strengthen policy and tool innovation and coordination.
According to the First Financial Report, the China Securities Industry Association held a meeting of chief economists in the securities fund industry on December 12.Participating experts believe that the addition of 100 trillion special Treasury bonds issued by the central government in the early stage will help promote the high growth rate of infrastructure investment.Experts suggest that in 2024, the central government can moderately improve the level of deficit, improve quality and efficiency, and promote the boosting domestic demand and market confidence.
Investors are paying close attention to China's fiscal situation.The international rating agency Moody's Moody's outlook for China's sovereign credit rating was adjusted from "stability" to "negative" last week, and warned of the risks of China's local government debt and real estate industry.
Reuters quoted people familiar with the matter and said that China may set about 5%of the economic growth goals in 2024.However, analysts said that in order to achieve a similar growth level as this year, China may need greater financial support, and retain certain flexibility in the budget deficit next year to cope with poor economic performance.
