Will China’s top legislature give the green light to fiscal stimulus package?
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The National People’s Congress (NPC) Standing Committee will convene in Beijing on November 6, 2024, to discuss a potential fiscal stimulus package; estimates for the package range from 2 trillion yuan (US$280.66 billion) to 10 trillion yuan; the NPC typically approves fiscal budgets during its annual session in March; the committee has previously issued additional treasury bonds, including 1 trillion yuan last October; predictions suggest approval of 1.5 to 2.5 trillion yuan in treasury bonds; economists advocate for a stimulus package exceeding 10 trillion yuan; details of any approved stimulus will be published on the NPC website following the meeting.
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