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China considers new stimulus to meet growth target – Bloomberg News

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China is looking to increase its budget deficit for 2023 as the government prepares to bring a new round of stimulus to help the economy meet the government’s annual growth target, Bloomberg News reported on Tuesday citing people familiar with the matter.

The government’s policymakers are weighing the issuance of at least 1 trillion yuan ($137.1 billion) of additional sovereign debt for spending on infrastructure such as water conservancy projects, the report added.

($1 = 7.2941 Chinese yuan)

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