Real Estate

China’s 1 trillion yuan debt plan isn’t necessarily such a big deal


A clerk of ICBC bank counts Chinese 100 yuan at its branch in Beijing.

Kim Kyung-Hoon | Reuters

BEIJING — Chinese authorities late Tuesday announced one of the biggest changes to the national budget in years, along with the issuance of 1 trillion yuan in ($137 billion) in government bonds.

But state media made it clear that whopping amount would be focused on reconstruction of areas hit hard by natural disasters — such as this summer’s historic floods — and for catastrophe prevention.

“The sheer amount of 1 trillion is not that significant, certainly not a game changer,” Larry Hu, chief China economist at Macquarie, said in an email. “But it’s still a modest positive surprise, as it’s…


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