Is local government investment being reined in?
Subscribe to keep reading.
Trivium Markets keeps you briefed on the latest developments in China markets policy.
Already a subscriber? Log in.
Total government expenditures contracted by 8% y/y in October. That was the first outright fall in public sector spending since last November.
Why’d it happen?
The finance ministry’s explanation: we overspent early in the year, so we have to scale back now.
That’s the mac...