A rundown of the news making headlines in and around China:
Government bonds: China has been issuing treasury bonds at an accelerated pace this year in a sign that it has embraced a more muscular fiscal policy to help the economy. From the start of the year to Wednesday, net financing of the bonds exceeded 1.46 trillion yuan ($202 billion). That’s enough to cover 22% of the central government’s target deficit for this year. By comparison, the figure was 11.1% for the entire first quarter of 2024. For this year, China raised its deficit target to a record 4% of GDP as part of its effort to adopt a more proactive fiscal policy.
