Markets will be happy to hear this. I wonder how true it is?

Report from China's finance ministry:

  • Increasing negative impacts from changes in the external environment present numerous difficulties and challenges to China's economy – Finance Ministry report.
  • This will increase pressure for China to maintain a balanced budget in 2025
  • China's sustained economic recovery and growth will support an increase in fiscal revenue, but many constraints will remain –
  • Insufficient domestic demand and price levels will continue to weigh down government revenues, which are calculated based on current prices
  • Some major tax-contributing industries are experiencing a slowdown in growth, while some firms face difficulties in production and operations
  • China is also confronted with considerable uncertainty in foreign trade
  • China will continue to leverage fiscal policy to implement counter-cyclical adjustments
  • China will increase the intensity of fiscal spending
  • China will implement a more proactive fiscal policy and improve the fiscal spending structure
  • China will adopt more proactive, sustainable, robust, and effective fiscal policies in 2025
  • China will accelerate the pace of fiscal spending

Bolding above is mine - comments that'll be particularly attractive to the market.

Trump China panda
Source: Forex Live