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6th Jul 2021 00:10China+, Asia Key Issues, Economic Monitor

China's on-balance sheet government deficit has recovered fast since the initial Covid hit early last year, reaching a seasonally adjusted 3.9% of GDP in Q1, on our calculations, up from the trough of 8.2% in Q1 last year, leaving it easily above the 5.3% average through 2019.

bond issuance budget caixin consumer consumer goods consumption December deficit economy gdp gdp growth government governments growth income index labour local government manufacturing May online sales orders pmi q1 remain services pmi special bond tax

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Keywords for: CN 6 July 2021 Local Government Expenditure will Soon Pick up, but Soon Enough?

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