0355 GMT - China is likely to maintain an ambitious GDP growth target at "around 5%" in 2025, unchanged from this year, according to Goldman Sachs analysts in a commentary. GS maintains its view that policymakers may raise the official on-budget deficit target to 3.6% of GDP in 2025 from 3.0% this year. Beijing is also likely to significantly raise the central government special bond issuance quota and the local government special bond issuance quota, GS reckons. It expects the total amount of government bond net issuance to increase to around CNY12 trillion in 2025 from CNY9 trillion in 2024. Fiscal policy will do most of the heavy lifting to stabilize growth, GS adds. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
December 16, 2024 22:55 ET (03:55 GMT)
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