Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Debt not on agenda of upcoming meeting of China's top legislature - Reuters

Published 25/10/2024, 12:40
© Reuters.
SSEC
-

Investing.com -- China's top legislative body is due to meet on Nov. 4-8 to discuss a range of issues, according to state news agency Xinhua, although a raft of fiscal measures aimed at reinvigorating the country's sputtering economy is not on the agenda.

Lawmakers at the meeting of the National People's Congress Standing Committee are set to deliberate on mineral resources, energy, anti-money laundering legislation, maritime issues and other areas, Xinhua reported.

They will also take into consideration the outcome of the upcoming US presidential election on Nov. 5, the South China Morning Post reported.

Matters related to the appointment and removals of officials are also on the schedule, as well as an examination of the State Council's financial work report, the management of state-owned assets and a special report on the administrative tasks of state-backed assets last year, Xinhua added.

However, the report did not mention if there would be discussion on potential moves to increase government debt, bolster consumers, and support China's faltering real estate market -- all of which were flagged as possible measures by Finance Minister Lan Foan earlier in October.

China has rolled out a series of measures in recent weeks designed to help the economy reach Beijing's stated 5% growth target for 2024. However, many analysts have argued that even more aid is needed to boost growth, and have called on Chinese officials to reveal details on the size and timing of such measures.

A report last week from Caixin Global suggested that China may raise 6 trillion yuan from the issuance of special treasury bonds over the next three years, although the number did not spark a upturn in sentiment in Chinese stocks.

Meanwhile, Reuters has reported that Beijing is planning to unveil special sovereign bonds worth around 2 trillion yuan this year.

(Reuters contributed reporting.)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.