Stabilising growth tops national agenda

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SECURING stable economic growth while maintaining fiscal viability lies at the core of China's pursuit of national security amid intensified external uncertainties and a lingering real estate downturn, leading economists said.

Li said that a significant portion of local debt, at least equivalent to 20 percent of the country's GDP or around 30 trillion yuan ($4.25 trillion), should be replaced with longer-term treasury bonds.

Speaking at the forum, Li Daokui, director of Tsinghua University's Academic Center for Chinese Economic Practice and Thinking, also said it is imperative to address the situation that local governments face extremely tight cash flows while banks are flush with liquidity.

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Category: EconomyBusiness

Markets: MalaysiaChinaSingapore

Topics: Debt Housing Economy Real estate /Business/Business News Economy Budget

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-15 @ 14:05:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 755 words

Reading Time: 5 minutes read

Sentences: 24 lines

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News ID: 23068063

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