India Tonight: China Moves Against Slowdown | China Economy Update | Global Market News
28With a growth target of 5.5% the Chinese govt is making all efforts to keep growth on track. In its latest, the ministry of finance said it will consider allowing local governments to sell 1.5 trillion yuan, which amounts to $220 bn worth of special bonds in the second half of this year. Such acceleration for infrastructure funding has never happened before but might be inevitable in order to shore up China's beleaguered economy. The debt would mostly be used to pay for infrastructure spending an old trick used to boost the economy hit by Covid lockdowns and a housing slump. Among the other measures taken, the world's largest car-maker also wants more people to buy cars. On ET Now India Tonight, Vikram Oza dives into whether the threat of recession is looming large for China. We are being joined David Madden, Market Analyst, Equiti Capital and José Torres, Senior Economist Interactive Brokers...tune in!
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