💨 Abstract

China maintains its economic growth target at 5% for 2023, despite escalating trade tensions with the US. To counter deflationary pressures and mitigate tariff impacts, China will increase fiscal resources, aiming for a budget deficit of 4% of GDP in 2025. Special treasury bonds and local government debt will be increased to fund these measures.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖