China_ Fiscal announcements focus on risk mitigation Concrete numbers and direct consumption support are still largely absent

Asia Pacific Economic Research 13 October 2024 J P M O R G A N China: Fiscal announcements focus on risk mitigation Concrete numbers and direct consumption support are still largely absent • MOF press conference did not announce the size of fiscal package, as it will need NPC approval • Positive measures: big lift in government debt ceiling to deal with local government hidden debt; further measures to stabilize the housing market; new capital injection for big banks; forward guidance that the government ca ...