金融时报 | 中国宣布10万亿元人民币的财政刺激计划
China unveils $1.4tn package to shore up economy
Beijing braced for increased trade tensions with US under Donald Trump. 6park.com 该计划将帮助地方政府化解债务风险,没有包含直接刺激内需的措施。分析师认为,一旦特朗普议程明朗化,中国可能宣布新刺激措施。
China has announced a Rmb10tn ($1.4tn) fiscal package to help shore up its faltering economy, as it braces for increased trade tensions with the US under Donald Trump. 6park.com 中国宣布了一项10万亿元人民币(合1.4万亿美元)的财政计划,以帮助支撑疲弱的经济。中国正准备应对在唐纳德•特朗普(Donald Trump)上台后与美国之间料将加剧的贸易紧张局势。 6park.com 6park.comAuthorities have said they will issue a total of Rmb10tn in bonds over three to five years, allowing China’s heavily leveraged local governments to restructure their finances, officials announced at a press conference on Friday presided over by finance minister Lan Fo’an. 6park.com官员们在周五由财政部长蓝佛安主持的一场新闻发布会上宣布,将在3至5年内发行总计10万亿元人民币的债券,让债务负担沉重的地方政府能够重整财政。 6park.com 6park.comBut the officials did not announce additional measures to directly stimulate domestic demand, potentially disappointing markets that had been hoping the package would also help consumers. 6park.com但官员们没有宣布直接刺激内需的额外措施,这可能会令市场失望,市场一直期待该计划同时也能帮助消费者。 6park.com 6park.comThe debt relief measures, which follow the announcement of a large monetary stimulus in September, had been expected even before Trump won the US presidential election this week with promises including levying a 60 per cent tariff on Chinese goods. 6park.com早在誓言对中国商品征收60%关税的特朗普本周赢得美国总统大选之前,外界已预料中国政府将推出化债措施。此前在9月份宣布了大规模货币刺激计划。 6park.com 6park.comBut analysts say China needs to urgently deal with problems dogging its domestic economy, including a prolonged housing slump that has dented household and local government revenues, before Trump’s tariffs hit its external sector. 6park.com但分析人士表示,在特朗普关税打击其出口部门之前,中国需要抓紧解决困扰国内经济的问题,包括房地产长期低迷,这一问题已对家庭和地方政府收入造成打击。 6park.com 6park.comIf fully implemented without Chinese countermeasures, the Trump tariffs could knock several percentage points off China’s GDP at a moment when the economy is highly vulnerable, analysts said. 6park.com分析人士表示,如果全面实施并且中国不采取反制措施,特朗普关税可能会在中国经济极其脆弱之际,导致其国内生产总值(GDP)增长率减少数个百分点。 6park.com 6park.comChina’s manufacturing industries and exports have been a rare bright spot for its economy this year, offsetting domestic weakness and helping Beijing come closer to hitting its growth targets. 6park.com制造业和出口是今年中国经济难得的亮点,抵消了国内需求疲软,并帮助北京方面更有希望实现其增长目标。 6park.com 6park.comBeijing was expected to announce additional support for the economy once Trump’s agenda became clearer in the coming months, analysts said. 6park.com分析人士表示,一旦特朗普的议程在未来几个月变得更加清晰,预计北京方面将宣布额外的经济支持措施。 6park.com 6park.comThere are signs the government’s monetary stimulus measures in September, which included interest rate cuts and support for the stock and property markets, have started to have an impact on the economy. 6park.com有迹象表明,中国政府9月宣布的货币刺激措施——包括降息和支持股市和房市的措施——已开始对经济产生影响。 6park.com 6park.comThe government has also accelerated pre-planned bond issuances for fiscal spending that had stalled during the year. 6park.com政府还加快了先前计划的用于财政支出的债券发行,这些发行今年一度停滞。 6park.com 6park.com“There have been some early signs of a pick-up in domestic demand,” Gavekal China economist Wei He wrote in a note, pointing to indicators such as the October purchasing managers’ index. 6park.com“内需出现了一些回升的早期迹象,”佳富凯集团(Gavekal)中国经济学家Wei He在一份报告中写道,指10月的采购经理人指数(PMI)等指标。 6park.com 6park.com“Housing sales are improving, the official PMI is rebounding and stock prices have made handsome gains,” Wei added. 6park.com“房屋销售正在改善,官方PMI正在反弹,股票价格也有大幅上涨。”Wei He补充道。
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