China CASS says economic stimulus should be boosted by around US180bn by increased deficit | Forexlive

Nikkie (Japanese press) on the call from the Chinese Academy of Social Sciences earlier this week to expand the budget deficit by at least 1.3 trillion yuan ($182 billion) this year to fund more economic stimulus.

CASS called for stimulus measures such as

• distributing consumption vouchers to middle- and low-income households
• urged swapping local government bonds for bonds issued by the central government to ease repayment pressure on debt-burdened local economies
• further interest rate cuts by the People’s Bank of China
• stressed the need to provide support to private real estate developers

Nikkei report is here for more (may be gated)