Posted 2/28/2024, 12:00:15 PM
China has fiscal room to spur economy through spending and investment in 2022, advisor says
- China's central government has fiscal capacity to boost investment and consumption this year, says adviser
- Central authorities should raise budget deficit to drive growth amid high local debt and weak property market
- Strategic investments needed in green tech, public services, supply chain security - state firms should invest more
- Consumption accounted for 82% of China's GDP growth last year vs 29% from investment
- Economists expect 3.5% budget deficit target at legislative meetings, plus equipment and trade-in incentives
