China's Public-Debt Situation Looks Manageable, DBS Says -- Market Talk

Dow Jones04-11

0222 GMT - China's overall public-debt situation looks manageable, says DBS Group Research economist Samuel Tse in a research report, noting Fitch's downgrade of its outlook for China's A+ credit rating to negative from stable on Wednesday. Beijing has set a moderate fiscal deficit target of 3.0% of GDP for 2024, down from last year's realized deficit of 4.6% of GDP, Tse notes. The central government is also slated to take on a more significant role in boosting economic growth, thereby easing some stress on local government debt, Tse adds. China's 10-year government bond yield is likely to hover around 2.30% over the near term, Tse forecasts. The 10-year yield is last flat at 2.39%. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 10, 2024 22:22 ET (02:22 GMT)

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The central government is also slated to take on a more significant role in boosting economic growth, thereby easing some stress on local government debt, Tse adds. China's 10-year government bond yield is likely to hover around 2.30% over the near term, Tse forecasts. The 10-year yield is last flat at 2.39%. 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