China's stimulus policies expected to bolster steel demand
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Update time : 2024-05-23 16:33:59
China has recently introduced several macroeconomic stimulus policies, significantly boosting market confidence and steel demand. Key measures include the acceleration of a CNY 1 trillion additional government bond issuance project, issuance of ultra-long-term government bonds, reduction of down payment ratios and mortgage interest rates, and trade-in programs.
The National Development and Reform Commission (NDRC) reported that currently, 15,000 out of 21,000 projects have started, with an operational rate of 72%. The remaining projects aim to commence by the end of June, indicating an acceleration of about 4,000 projects within a month, boosting demand.
Moreover, the NDRC is preparing to issue the first batch of ultra-long-term special government bond projects. These bonds are set to finance major projects that can begin immediately once funds are available, expediting project implementation.
