China moves to boost economy with $137 billion sovereign bond issuance
Tuesday, 24 October 2023 China plans to issue sovereign bonds worth 1 trillion yuan ($137 billion) in an effort to support its economy following a slow post-Covid recovery. Zhang Zhiwei of Pinpoint Asset Management said the move was "highly unusual" and "came to the market as a surprise". "I take this policy as another step in the right direction -- China should make its fiscal policy more supportive, given the deflationary pressure in the economy," he wrote in a note. "Part of the funds raised will be utilized next year, hence this helps to boost growth outlook beyond Q4."
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China's top parliament body has approved a 1 trillion yuan ($137 billion) sovereign bond issue to support the economy. The funds raised from the bonds will be... IndiaTimes
Tuesday, 24 October 2023
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