CCP Allocates $41 Billion From Long-Term Bonds to Stimulate Consumption

Published on July 29, 2024

In China’s latest measure to stimulate the economy, Beijing announced the direct allocation of 300 billion yuan (about $41.4 billion) of ultra-long-term treasury bonds to local governments to support equipment upgrades and consumer goods trade-in projects. Analysts pointed out that with foreign capital withdrawal, production overcapacity, sluggish domestic demand, and downgraded consumer spending, the money from the bonds invested by the authorities will have limited impact and may be embezzled by local officials. The ruling Chinese Communist Party’s (CCP’s) National Development and Reform Commission (NDRC) and its Ministry of Finance announced the measure on July 25, stating that the allocation is to “step up support for large-scale equipment upgrades and trade-ins of old consumer goods.”...

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