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    • Will China’s upper house give the green light to the fiscal stimulus package?
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    Will China’s upper house give the green light to the fiscal stimulus package?

    Harry Posted on

    The Standing Committee of the National People’s Congress (NPC), China’s top legislative body, It will meet in Beijing on Monday discussing a wide range of topics. A major fiscal stimulus, recommended by many leading economists and eagerly awaited by investors, seems to be among them.
    While markets are speculating on this issue potential size of the financial package We’ve compiled some key facts about the upcoming session — with estimates ranging from 2 trillion yuan ($280.66 billion) to 10 trillion yuan — about how they would approve such a stimulus and when the public will know about it.

    What is the relationship between the legislature and incentives?

    China’s ministry of finance under the State Council (the country’s cabinet) usually submits the fiscal budget to the NPC for approval during an election. Annual legislative meeting in MarchA necessary step before application.

    Exercising its legislative power outside of full session, the NPC Standing Committee has the authority to approve any adjustments to government budgets during the fiscal year, including changes to the annual fiscal deficit rate, special treasury bonds quota, and local government ceiling. debt levels.

    It traditionally meets every two months, usually at the end of even-numbered months. There have been exceptions to this informal tradition; The upcoming conclave will be held in November, and the previous conclave this year was held in mid-September.

    The agenda of the November meeting did not include draft laws or budget plans regarding the ministry of finance. But that doesn’t mean it won’t happen: many times budget adjustments have been announced after the fact.

    03:49

    Xi’s rallying cry sets economic priorities for Chinese officials, saves them from mistakes

    Xi’s rallying cry sets economic priorities for Chinese officials, saves them from mistakes

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