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KBND - China Growth Could Slow Amid Limited Policy Options
KraneShares Bloomberg Barclays China Bond Inclusion Index ETF
2024-02-03 08:48:00 ET
Summary
While recent policy announcements and data surprises have generated some optimism, we maintain a cautious stance on China’s economic prospects.
We believe weak consumption trends, a downbeat labor market and continuing property sector headwinds should all weigh on the economy in the coming quarters.
We project the National People’s Congress to announce a budget deficit of 3.8% for 2024, alongside a special local government bond quota of CNY 4 trillion.
By Puay Yeong Goh
We believe weak domestic demand and constrained policy support will lead to slower economic growth for China in 2024. ...