7 Mar 2019
China lowers its 2019 growth target to 6-6.5%, but so far no signs of mega stimulus from National People’s Congress
There were no signs of a mega stimulus to come out of China from the start of the annual National People’s Congress in Beijing. Growth expectations have been lowered, as anticipated, and targets for fiscal and credit support are modest at best. The fiscal deficit is barely rising, and policymakers are aiming for “basically stable” debt-to-GDP this year.