In the view of the analysts at Fitch Ratings, China’s planned fiscal consolidation in 2021 is likely to be more modest than previously expected.
“China strikes cautious note on fiscal consolidation.”
“Estimate consolidated fiscal deficit will moderate to 7.5% of GDP this year, from 9% in 2020.”
“Baseline forecasts suggest Chinese government debt-to-GDP ratio will rise to about 57% by end-2021, up by 10pp from end-2019.”
- China state funds said to buy stocks after plunge escalated – Bloomberg
- PBOC’s Yulu sees no need for major stimulus in next five years – China Press