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#China’s fiscal approach amid ongoing external economic &trade uncertainties:
1. Maintain steady growth of “broad #credit”-the sum of debts&loans to residents, firms & govts, which not just creates #debt but also financial assets which can help increase purchasing power.
1. Maintain steady growth of “broad #credit”-the sum of debts&loans to residents, firms & govts, which not just creates #debt but also financial assets which can help increase purchasing power.
2. Currently, the #credit and loan growth out of general govt spending and local govt financing platforms is a main stabilizer of #China’s #macroeconomic growth.
3. More “special #bonds” should be issued to support #infrastructure investments that generate low cash flow and are less profitable, meanwhile clarifying the #market-government boundary.
