The country has raised its expenditure in the national general public budget to about 28.55 trillion yuan this year, up 4 percent from the previous year. It has also planned a 3 percent deficit-to-GDP ratio, which means 4.06 trillion yuan in deficit. The figure is 180 billion yuan more th...
Reports that China is facing a record budget deficit in 2002 according to a report delivered by Chinese Finance Minister Xiang Huaicheng to the National People's Congress on March 6, 2002.EBSCO_bspChina Business Insider
This year the official budget deficit (covering only general public budget) is widened to 3 percent of GDP from 2.8 percent last year, but the broad deficit (also covering government funds budget) is likely to be scaled back. In December, the CEWC called on the government to "maintain nece...
On the fiscal policy front, the country last month lifted its 2023 budget deficit ratio from 3 percent to around 3.8 percent, through the issuance of an additional 1-trillion-yuan (about 139.28 billion U.S. dollars) in government bonds during the last quarter of the year. The effective impl...
China’s Economic Recovery from COVID-19 By Wen Qi T he outbreak of the COVID-19 in Wuhan, the People’s Republic of China (PRC),prompted an unprecedented government response to arrest the neg-ative impacts of COVID-19, putting people’s health and welfare first. In order to effectively...
On March 5, during the annual Two Sessions conference, China released its government budget report, which lays out how the state intends to spend in 2024. This year’s budget is conservative, with increases to revenue...
The country expects to create over 12 million jobs in urban areas and keep the surveyed urban unemployment rate at around 5.5 percent this year, according to the report. A proactive fiscal policy and a prudent monetary policy will ...
The country expects to create over 12 million jobs in urban areas and keep the surveyed urban unemployment rate at around 5.5 percent this year, according to the report. A proactive fiscal policy and a prudent monetary policy will be continued, with the ratio of deficit to gross domestic produ...
“crisis” is the right word. I'm alert and watchful, rather than alarmed, about the US budget deficit and the US fiscal position. The Congressional Budget Office says that for the next decade, based on current policy, the US budget deficit might be 6% of GDP a year. I think that's...
s leveraging, while the size of the local deficit will remain the same as in the previous year. The report also predicts that government fund budget revenue will only increase slightly by 0.4% compared to 2022. In the social security fund budget, the scale of financial subsidies will continue...