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China will accelerate next year’s quota of local government special bonds, according to the chief analyst at Cinda, after 93 percent, or CNY3.4 trillion, of this year’s was used in the first half, and of which 66% so far has gone toward infrastructure
yicaiglobal.com
China will accelerate next year’s quota of local government special bonds, according to the chief analyst at Cinda, after 93 percent, or CNY3.4 trillion, of this year’s was used in the first half, and of which 66% so far has gone toward infrastructure
yicaiglobal.com
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He adds that next year, China’s economy is likely to stage a stronger recovery, and so appetite for bond issuance will wane. For that reason he thinks the early use of next year’s quota would be a reasonable measure to support the economy this year.
He adds that next year, China’s economy is likely to stage a stronger recovery, and so appetite for bond issuance will wane. For that reason he thinks the early use of next year’s quota would be a reasonable measure to support the economy this year.
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He may be right, but I suspect that next year we will see at best a partial recovery, driven by a very partial recovery of this year's terrible consumption performance. At any rate it generally isn't a good strategy to make up for current weakness by assuming excess...
He may be right, but I suspect that next year we will see at best a partial recovery, driven by a very partial recovery of this year's terrible consumption performance. At any rate it generally isn't a good strategy to make up for current weakness by assuming excess...
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strength in the future, and on that basis moving some of the growth forward. Chinese growth is slowing permanently, and any "recovery" this year or next will just be a partial reversal of this year's terrible performance. The sooner they acknowledge this the better.
strength in the future, and on that basis moving some of the growth forward. Chinese growth is slowing permanently, and any "recovery" this year or next will just be a partial reversal of this year's terrible performance. The sooner they acknowledge this the better.
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