China’s government said its GDP growth rate next year will come in at nearly 6%
Share to linkedinGettyThe official figure is expected to come out of the three-day Central Economic Work Conference taking place in Beijing later this month. Investors will want to see Beijing signaling more stimulus, something Xi Jinping has largely been against all year.
To help second and third tier cities taking a hit from trade friction and the remapping of global supply chains, China’s government next year plans on issuing more than 3 trillion yuan in local special purpose bonds to support provincial infrastructure projects, along with the central bank’s ongoing dovish monetary policy, the“Beijing has kept sending the message in recent months that the slowdown is gradual and this is OK as long as the labor market is good,” Louis Kuijs, head of Asian economy...
Both sides remain far enough apart that the risk of tariffs rising on December 15 remains high, though this does not seem to be the base case scenario at many investment firms, including Barclays. Despite this, China invited Trump’s trade negotiators back to Beijing for another round of talks and President Trump is still that the ‘Phase 1’ deal is likely, even if it happens next year instead of this month.
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