Investing.com — China’s top legislative body is due to meet on Nov. 4-8 to discuss a range of issues, according to state news agency Xinhua, although a raft of fiscal measures aimed at reinvigorating the country’s sputtering economy is not on the agenda.
Lawmakers at the meeting of the National People’s Congress Standing Committee are set to deliberate on mineral resources, energy, anti-money laundering legislation, maritime issues and other areas, Xinhua reported.
They will also take into consideration the outcome of the upcoming US presidential election on Nov. 5, the South China Morning Post reported.
Matters related to the appointment and removals of officials are also on the schedule, as well as an examination of the State Council’s financial work report, the management of state-owned assets and a special report on the administrative tasks of state-backed assets last year, Xinhua added.
However, the report did not mention if there would be discussion on potential moves to increase government debt, bolster consumers, and support China’s faltering real estate market — all of which were flagged as possible measures by Finance Minister Lan Foan earlier in October.
China has rolled out a series of measures in recent weeks designed to help the economy reach Beijing’s stated 5% growth target for 2024. However, many analysts have argued that even more aid is needed to boost growth, and have called on Chinese officials to reveal details on the size and timing of such measures.
A report last week from Caixin Global suggested that China may raise 6 trillion yuan from the issuance of special treasury bonds over the next three years, although the number did not spark a upturn in sentiment in Chinese stocks.
Meanwhile, Reuters has reported that Beijing is planning to unveil special sovereign bonds worth around 2 trillion yuan this year.
(Reuters contributed reporting.)
