Eyeing US Election, China Considers Over $1.4 Trillion In Extra Debt Over Next Few Years

29 October 2024, 7:32 am 1 minute

China is considering approving next week the issuance of over 10 trillion yuan ($1.4 trillion) in extra debt in the next few years to revive its fragile economy, a fiscal package which is expected to be further bolstered if Donald Trump wins the U.S. election, two sources with knowledge of the matter told Reuters.

Why it matters

The planned total amount, to be raised by issuing both special treasury and local government bonds, equates to over 8% of the output of the world’s second-largest economy, which has been hit hard by a protracted property sector crisis and ballooning debt of local governments.

Article Tags

Topics of Interest: EconomyGovernment

Type: Reuters Best

Sectors: Economy & Policy

Regions: AmericasAsia

Countries: ChinaUS

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global Story