China’s economic planner outlined new measures to support the struggling economy; however, the government refrained from implementing significant new stimulus.
China’s National Development and Reform Commission Chairman Zheng Shanjie on Tuesday announced a special purpose bond issuance to local governments to spur their growth. He explained that ultra-long special sovereign bonds totaling CNY 1 trillion have been fully allocated for regional projects.
See also China shows 2008-like panic, launching pandemic-level stimulus to combat looming recession.
The central government will release a CNY 100 billion investment plan for next year by the end of this month, ahead of schedule, a senior official added.
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