A meeting of China’s top legislative body starting on Monday is expected to unveil a financial policy package focused on stabilising the economy through local government debt swaps and injections of capital into banks, analysts said, rather than replicating the 4 trillion yuan (US$564.7 billion) stimulus of 2008 as hoped for by some market players.
They also noted that the outcome of Tuesday’s US presidential election, which is likely to become known during the five-day meeting, will play a crucial role in shaping the direction of China’s economic stimulus efforts.
