China’s fiscal reform_Speeding up reforms to counter external risks
21世纪新健康研究院·2025-02-13 06:50
10 February 2025 Trade tensions have intensified but may accelerate policy easing (7 February). The US has imposed a 10% tariff on goods imported from China, which we estimate to reduce China's GDP by 0.3ppt. But it may be a blessing in disguise, pushing Beijing to implement more forceful fiscal easing and structural reforms. Among all the policy initiatives laid out by the Third Plenum last year, fiscal sustainability was not only considered as a long-term objective, but also essential for restoring local ...