09 Oct 2024
Trivium Markets keeps you briefed on the latest developments in China markets policy.
Local governments must issue all their 2024 special-purpose bonds (SPBs) by the end of this month.
On Tuesday, China’s economic planner (NDRC) disclosed that local authorities issued RMB 2.83 trillion of SPBs from January to September, accounting for 90% of their annual quota.
The NDRC ordered loca...
October 22, 2024
Property prices continued to fall at a historic pace in September. According to the stats bureau’s (NBS) monthly survey of home prices in 70 major cities, published Friday: In September, average new home prices fell 0.71% m/m, improving marginally from… Read More »
October 22, 2024
Local government debt woes showed no sign of improvement in September, according to the latest data on commercial acceptance draft (CAD) defaults. At the end of September, the number of local government financing vehicles (LGFVs) with repeated defaults on Commercial… Read More »
October 22, 2024
The stimulus calls are coming from inside the house. Last week, another top government advisor, Liu Shangxi, head of the Chinese Academy of Fiscal Sciences, made the case for fiscal stimulus to “absolutely surpass” RMB 10 trillion. Some context: We… Read More »