0852 GMT - China's ministry of finance will likely strengthen its fiscal easing stance and show an increased willingness for the central government to take on more debt at its meeting on Saturday, Goldman Sachs economists write in a note. They think policymakers will pledge more fiscal support for this year and the next, with a heavier focus on boosting consumption and local government debt swaps, they add. Beyond the meeting, GS continues to expect policymakers to approve an additional CNY1 trillion-CNY2 trillion in ultra-long central government bond quotas by end-2024, tap unspent local government bond quotas to facilitate debt swaps, and maintain their fiscal easing stance. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
October 11, 2024 04:53 ET (08:53 GMT)
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