AGP Executive Report
Last update: 11 hours agoFiscal Stimulus: China will deploy 550 billion yuan in unused local-government debt quotas, including 300 billion to support county budgets and the rest for infrastructure, as weak consumption and investment threaten its 4.5%-5% growth target. Beijing also began selling special bonds to recapitalize major state financial institutions. Growth Outlook: UNCTAD forecasts China’s economy will expand 4.5% this year, while global growth slows to 2.6%; it warns trade between China and the U.S. has fallen more than 20% since 2024. Consumer Spending: National Day tourism brought in 738.4 billion yuan, up 4.3% year on year, but other indicators point to cautious spending, including falling hotel rates and a weak holiday box office. Trade Tensions: EU-China talks in Beijing are seeking to ease tensions, but Beijing rejected voluntary limits on hybrid-car exports as Europe weighs tougher trade measures.
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