Executive Comment: China's Underdeveloped Bond Market Hinders Effective Fiscal Stimulus And Increases Risks Mar 09

Standard & Poors, March 2009

Abstract
As the global economy braked sharply in the final quarter of last year, China rolled out its massive Chinese yuan (CNY) 4 trillion fiscal stimulus package. At the time, the package was widely regarded as a sign of the Chinese government's intention to play safe by providing an ample cushion for the economy. Now, however, the package seems barely enough to keep economic growth at a decent rate in 2009. A second stimulus is reportedly in the planning stage. If not for the government's early and forceful push, it is unlikely that real GDP growth will reach anywhere near the 6.5% rate that Standard & Poor's expects this year. So, while other parts of East Asia face a year of...

Companies mentioned in this report are: China (People's Republic of )

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

China (People's Republic of )

Customers who bought this item also bought

• Economic 360 for China: Growth Prospects and Emerging Opportunities in the Aerospace Industry
• Developing Winning Strategies To Attract Postgraduate Students From China - Summary Report / International Students: Maximising the Potential from China - Segmenting Postgraduates from China
• China Education Industry Outlook to 2012 - Evolving Hong Kong Higher Education Sector
• Research on Online Education and Training Market in China, 2012-2017
• Future of the Chinese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
• China Aged Care Service Industry Report, 2011-2012
• China Aged Care Service Industry Report, 2011-2012
• Research on China’s K12 Tutoring Market, 2011-2015
• Research Report on Chinese Securities Industry, 2009
• The Chinese Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017