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HSBC Global Research: Weekend MOF Press Con Beats in Several Aspects
The Ministry of Finance (MOF)'s weekend press conference did not set a specific amount for its fiscal stimulus measures, said HSBC Global Research in a report. It is expected t...
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HSBC Global Research: Weekend MOF Press Con Beats in Several Aspects
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The Ministry of Finance (MOF)'s weekend press conference did not set a specific amount for its fiscal stimulus measures, said HSBC Global Research in a report. It is expected that specific details of the fiscal stimulus may not be announced until the State Council executive meeting soon or the Standing Committee of the National People's Congress meeting at the end of the month approves the budget revision. The broker maintained its expectation of a scale of over $2 trillion in the stimulus.

The weekend press conference of the MOF beat expectations in several areas, for example, the mainland government's determination to tackle current challenges. Chinese Finance Minister Lan Fo’an mentioned the current challenges and announced four key areas in response to the call of the Chinese Central Political Bureau: resolving local government debt, increasing the core tier-one capital of large state-owned banks, stabilizing the property market, and strengthening direct support for key groups.

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