Supportive fiscal acts to serve as crucial pillar to sustain robust recovery amid headwinds both at home and abroad
BEIJING — Just as a single decisive move can energize a chess game, China’s latest initiative to address local government debt risks marks a crucial step in revitalizing the growth prospects of the world’s second-largest economy.
The move comes as China gears up to navigate economic headwinds both at home and abroad, with a supportive fiscal policy serving as a crucial pillar to sustain a steady and robust recovery.
Local governments, the linchpins of the country’s fiscal outlays, were stuck with high debts and falling revenues, bringing challenges to the efforts of…
