0913 GMT - China's trade tensions with the U.S. may be a catalyst for Beijing to accelerate policy easing, according to HSBC economists. The Trump administration's additional 10% tariff on goods imported from China is likely to shave off 0.3 percentage point from China's GDP growth, they say in a note. The tariffs may also push Beijing to implement more forceful fiscal easing and structural reforms, the economists note. Consumption tax reform could accelerate this year, including shifting the collection point from production to consumption, and giving a share to local governments, they add. The key objective is to enhance fiscal sustainability and streamline the fiscal relationship between the central and local governments, they say. Investors will be closely watching the National People's Congress in early March. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 04:13 ET (09:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。