China is about to embark on a new infrastructure spending spree in a bid to fix an economy nearing breaking point because of Covid lockdowns.
Highlights
- The Chinese government is preparing for a new year’s worth of investment in China.
- The country’s biggest spending cuts are expected to hit $2.2 billion in a year.
- Beijing plans to spend more than $1 billion on infrastructure projects this year’s budget.
- The government plans to use more money to offset the loss of income tax breaks to offset inflation and other tax breaks in China’s $2 billion budget for the next year’s economic stimulus bill.
- China is the world’s largest economy and the country’s largest state of origin in the world, China’s largest city and largest city of China, the People’s Economic Development Agency for China’s biggest stake in the region.