CHINA-LEADERSHIP: PBSC MEETING ON MARCH 27
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Chinese President Xi Jinping chaired a meeting of the Politburo Standing Committee n march 27 to discuss 'Dealing with the Coronavirus'. The meeting discussed keeping imported cases from entering the country and staying vigilant against the virus at home. It announced that the government will be rolling out a basket of supportive measures to help the economy. The official readout said: (i)“Proactive fiscal policy should be more proactive and effective.”; (ii) “Prudent monetary policy should be more flexible and appropriate.”; (iii) “The fiscal deficit ratio should be raised appropriately.”; (iv) “Special treasury bonds should be issued.”; (v) “The scale of local government special bonds should be increased.”; (vi) “The interest rate of the loan market should be guided down.”; and (vii) “Liquidity should be kept reasonable and abundant.”
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