China’s economy shows signs of stabilisation as consumption rises more than expected

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The Straits Times 3h ago

China’s economy shows signs of stabilisation as consumption rises more than expected - The Straits Times

Quick Summary:

Retail sales in October increased 4.8 per cent from a year earlier, the best reading since February.

Finance Minister Lan Fo’an has promised “more forceful” fiscal policy in 2025, hinting at an increase in the budget deficit, an expansion in special local bond issuance and freer use of the funds raised.

The authorities also rolled out a US$1.4 trillion (S$1.88 trillion) debt swap programme to curb debt risks faced by the local authorities and free up fiscal room for them to promote growth.