China Tells

China government unleashed the world’s most aggressive stimulus plan in ’09 for 4 trillion RMB. Due to the scale of such a stimulus, the fiscal deficit has grown exponentially to more than 800 billion RMB at one point. Since the beginning of 2010, however, the government seems to keen to withdraw the stimulus and liquidity slowly and quietly. According to the latest stats from CEIC, the fiscal deficit has decreased to about 300 Billion RMB, showing a meaningful liquidity drain in the Chinese economic system.

中国政府在09年推出了4万亿经济刺激政策，在那个时候，政府的财政赤字也上升到了新高，因为很多刺激都需要政府举债完成。但是自从10年年初开始，政府的财政赤字不断下降，显示刺激的力度和流动性都有一定程度的回落。目前看来政府有意继续收紧财政，同时对房价的过快增长进行一定程度的限制，在这个大环境下，估计经济增速会有一定程度的回落。