September 18, 2024_ The Chinese government has submitted a report on public debt to the National People's Congress for the first time, highlighting a...
September 18, 2024_ The Chinese government has submitted a report on public debt to the National People's Congress for the first time, highlighting a legal debt of 70.77 trillion yuan at the end of 2023. Despite the resilience of external demand, domestic demand continues to disappoint expectations, prompting the government to consider new policies to stimulate growth. In addition, the report emphasizes the need to reform public debt management and strengthen fiscal discipline at the local level. The source of this news is caixin.com. Chinese authorities are trying to address current economic challenges, including declines in the real estate and lending sectors, to ensure a sustainable recovery.
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