China Identifies Projects In $140 Billion Spending Plan

China's top planning body has announced that it had identified a second batch of public investment projects, including flood control and disaster relief programs, under a bond issuance and investment plan announced in October to boost the economy, as reported by Reuters.

China's economy, the world's second-largest, is grappling with challenges in regaining its footing post-COVID-19.

With the latest tranche, China has now earmarked more than 800 billion yuan of its 1 trillion yuan ($140 billion) in additional government bond issuance in the fourth quarter, focusing on fiscal measures to support the flagging economy.

The National Development and Reform Commission (NDRC) stated on Saturday that it had identified 9,600 projects with a planned investment of more than 560 billion yuan.

China's economy, the world's second-largest, is grappling with challenges in regaining its footing post-COVID-19.

Policymakers are addressing issues such as tepid consumer demand, weak exports, falling foreign investment, and a deepening real estate crisis. The 1 trillion yuan in additional bond issuance is expected to widen China's 2023 budget deficit ratio to around 3.8 percent from 3 percent, according to the state-run Xinhua news agency.

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