China's annual parliament meeting begins next week:
A snippet from Goldman Sachs on some key points to watch for:
- estimates the special debt quota municipalities would be allowed to issue will be increased to 4.7 tn yuan, from 3.9 trillion yuan in 2024
- keeping employment growing will be a key goal, Goldman Sachs are looking for a jobless rate target of around 5% (vs. around 5.5% last year)
UBS:
- estimates the special debt quota municipalities would be allowed to issue will be increased to 4.5 tln yuan
The backdrop to this meeting is a challenging one.
