27 Dec 2021
China Set to Introduce Additional Monetary Policies Aimed at Economic Development in 2022
The Index Today
China is gearing up to launch a set of new monetary policies next year as part of the country’s efforts to boost their economic growth.
According to discussions held at a meeting on the 2022 financial policy, the government is planning to implement another round of reductions on taxes and fees in order to aid companies and other businesses in making sound financial investments in infrastructure.
China has apportioned a total of $229 billion in the advance quota for 2022 to support the local government special bonds that would inform investments and economic expansion.
This comes in the midst of the various pandemic-related economic impediments that the country has faced including a struggling real estate sector and supply hindrances that have been further exacerbated by the recent surge in infections which has resulted in stricter restrictions.
According to the finance ministry, the proposed financial policies will strengthen China’s economy with the central government adopting measures to help local governments meet essential expenditures.