China

China's September fiscal revenue growth picked up from August, finance ministry officials said on Friday, vowing to start issuing 2026 bonds early to give the economy an extra boost. The 2.6% increase in fiscal revenue last month quickened from 2% growth in August, despite signs the economy may be losing some momentum. For the first nine months of the year, fiscal revenue grew 0.5% year-on-year, Tang Longsheng, an official from the finance ministry, said at a press conference in Beijing. "This year, the Ministry of Finance will continue to frontload the bonds from 2026 new local government debt quota," said Li Dawei, an official from the ministry, at the same press conference. This type of advance fundraising can give spending a jumpstart heading into the new year and is a co...

Beijing created the special financing tool to turbocharge domestic innovation and help the economy ride out the trade war China’s top economic planner, the National Development and Reform Commission (NDRC), confirmed last month that Beijing was setting up a new “policy-based financial instrument” worth 500 billion yuan (US$70 billion). The special financing tool was first proposed in April – when trade tensions between China and the United States were rapidly escalating – to provide an extra injection of funding to accelerate domestic innovation and support the economy. It has the potential to drive trillions of yuan in lending in the coming years, analysts said. In this explainer, the Post explores what the new financing tool is, how it will be used, and why it differs fr...

In a series of eight op-eds published in the Communist Party’s mouthpiece newspaper ahead of a meeting that will set the tone for China’s next five years of development, Beijing described the country’s economy as an “unsinkable economic aircraft carrier” capable of withstanding internal and external uncertainties. The articles in People’s Daily, carrying a byline widely seen as representing the party’s Central Financial and Economic Affairs Commission, touted China’s stability and resilience when compared with Western systems and vowed to ensure that the “broad masses” enjoy the dividends of development.“Through our actions, we show the world that the China ‘economic aircraft carrier’ is unsinkable, unbreakable and indestructible – undaunted by wind or rain, pressing forward relent...

The World Bank on Tuesday raised its 2025 growth forecast for China as part of an overall boost in projections for East Asia and the Pacific, after a summer that saw U.S. tariff-led uncertainty rock the global economy. The World Bank now projects China’s economy to expand by 4.8%, compared with 4% predicted in April. The new forecast is closer to China’s official target of around 5% growth in gross domestic product in 2025. The economists did not provide a specific reason for the change in forecast from April, but noted that China’s economy has benefited from government support that could fade next year. Trade tensions between China and the U.S. escalated in April, temporarily sending U.S. tariffs on Chinese imports to well over 100% before the two countries reached a trade t...

China’s central bank appears increasingly likely to ease its monetary stance in the fourth quarter, according to Goldman Sachs, as economic momentum slows and policymakers face mounting pressure to support growth. The forecast includes a 10-basis-point policy rate cut and a 50-basis-point reduction in the reserve requirement ratio, which could come as year-on-year growth slows sharply towards 4 per cent from a high base last year, a note released on Saturday said. “But the data-dependent nature of PBOC decision-making leaves open the risk of no action if full-year growth stays on track for the ‘around 5 per cent’ target,” analysts said in the note. The projection followed the central bank’s third-quarter Monetary Policy Committee meeting held on Tuesday, when officials mainta...