China’s budget deficit hit a record high in the first 11 months of 2022 | Forexlive
The report is in the Financial Times, which is gated.
The Wall Street Journal add a little more detail:
Government spending in China will persist – fiscal support for the troubled property sector and to help firms cope wit COVID setbacks as the WSJ note in their tweet.
The fiscal support will act as a tailwind for China’s economy and markets. Addressing the deficit will have to wait!