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Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
China's Ministry of Finance is giving a green light for fiscal adjustments, signaling potential positive changes ahead, says Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking under Tsinghua University. He proposes that the central government should use its robust financial capacity to swap out local government debt, providing much-needed cash to local governments. This would enable them to pay enterprises and contractors who have faced delayed payments amounting to as much as 10 percent of GDP. While the green light doesn't mean the car is moving yet, it's a promising start!