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China decided not to set a GDP target and increased the debt

May 22, 2020 | Cbonds

China made a decision not to set a target for its GDP growth in 2020 due to uncertainties caused by the coronavirus. 

At the same time, the government announced to issue more debt: 
  • It will place 1 trillion yuan of government bonds for coronavirus control. 
  • Special local government bonds for project development will rise by 1.6 trillion compared with the last year. The debt will amount to 3.75 trillion yuan.

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