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Economy booster: China to issue $137 billion worth sovereign debt
![IndiaTimes]()
Wednesday, 25 October 2023
China's top parliament body has approved a 1 trillion yuan ($137 billion) sovereign bond issue to support the economy. The funds raised from the bonds will be used to rebuild disaster-hit areas and improve infrastructure for natural disaster prevention. This move will widen the country's 2023 budget deficit to around 3.8% of GDP. The approval of the bill by the National People's Congress is seen as a necessary intervention to prevent a sudden fiscal tightening.
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Wednesday, 25 October 2023
