- Several institutional factors make it more effective than monetary policy at stabilizing growth in the short run.
- The significant and unexpected shock from the latest COVID-19 outbreak has made it harder for China’s government to achieve its 2022 growth target.
- About 70% of proceeds from local government special bonds are channeled to areas like transportation, municipal construction, government-subsidized housing projects, agriculture, forestry and water conservation, and the energy sector.
For further details see:
China's Coming Fiscal Stimulus: A Time To Grow