China’s top legislative body reviewed a bill on local debt swaps on Monday, the first of several actions expected to be taken this week to reduce fiscal risks and shore up the national economy.
Finance minister Lan Foan delivered the proposal to the National People’s Congress Standing Committee, the official Xinhua News Agency reported.
The committee’s activities are being closely watched by markets and analysts in anticipation of a blockbuster fiscal stimulus package, with estimates of its ultimate scale ranging from 2 trillion yuan (US$280.76 billion) to over 10 trillion yuan.
The legislative body convened on Monday for a weeklong session scheduled to conclude Friday.
More to follow…
Visited 1 times, 1 visit(s) today
