China Weighs $1.4 Trillion Fiscal Stimulus Package, Reuters Says
中国考虑 1.4 万亿美元的财政刺激计划，路透社报道

China is weighing approving over 10 trillion yuan ($1.4 trillion) in additional borrowing in the coming years to shore up the economy and address local governments’ debt risks, Reuters reported, citing unnamed sources.
中国正在考虑在未来几年内批准超过 10 万亿元人民币（1.4 万亿美元）的额外借款，以支持经济并应对地方政府的债务风险，路透社援引匿名消息来源报道。

The fiscal stimulus may be approved at a meeting by China’s top legislative body to be held Nov. 4-8, according to the Tuesday report. The package includes 6 trillion yuan in debt to be raised over three years including 2024 to help local authorities resolve off-balance-sheet debt, as well as 4 trillion yuan worth of bonds to fund regional governments’ purchases of idle land and properties over the next five years, it said.
根据周二的报告，中国最高立法机构将在 11 月 4 日至 8 日举行会议，可能批准财政刺激计划。该计划包括在 2024 年及以后的三年内筹集 6 万亿元人民币的债务，以帮助地方当局解决表外债务，以及在未来五年内筹集 4 万亿元人民币的债券，以资助地方政府购买闲置土地和物业。

The stimulus could be bigger if Donald Trump wins his reelection bid next week because the former US president is expected to increase economic challenges for China, according to the report.
如果唐纳德·特朗普下周赢得连任，刺激措施可能会更大，因为报告指出，这位前美国总统预计将增加中国的经济挑战。

The session by China’s top legislative body comes as markets anticipate details of fiscal support for the economy to bolster Chinese President Xi Jinping’s most forceful economic stimulus plan since the pandemic.
中国最高立法机构的会议正值市场期待财政支持经济的细节，以增强中国国家主席习近平自疫情以来最强有力的经济刺激计划。

Economists expect the meeting to confirm a plan to refinance local governments’ debt and issuance of sovereign bonds to inject capital into banks. Investors have been on the lookout for fresh stimulus in the form of greater public borrowing and spending, but opinions differ over whether it’ll materialize this year.
经济学家预计会议将确认一项计划，以再融资地方政府的债务并发行主权债券，以向银行注入资本。投资者一直在关注以更大公共借贷和支出的形式提供的新刺激，但对于这是否会在今年实现意见不一。

The active FTSE China A50 Index Futures contract traded 1.3% higher in Singapore as of 5:40 p.m. local time following the report.
活跃的 FTSE 中国 A50 指数期货合约在当地时间下午 5:40 在新加坡交易上涨 1.3%，此消息发布后。

The 6 trillion yuan for local debt problems would partly be raised by selling special sovereign bonds, while the 4 trillion yuan for property will be funded by local government special bonds, according to the Reuters report. China is also considering other measures worth at least one trillion yuan, including efforts to boost consumption, it said.
根据路透社的报道，解决地方债务问题的 6 万亿元将部分通过发行特别国债筹集，而 4 万亿元用于房地产将由地方政府特别债券融资。中国还在考虑其他价值至少 1 万亿元的措施，包括促进消费的努力。

Reuters also reported that another trillion yuan could be raised to inject capital into major banks. Bloomberg News last month reported that China was considering such an injection to increase lenders’ capacity to support the struggling economy.
路透社还报道，另一个万亿人民币的资金可能会被筹集，以注入主要银行。彭博新闻上个月报道，中国正在考虑这样的注入，以增加贷款机构支持疲软经济的能力。

Bloomberg News separately reported earlier this month that China is considering allowing local authorities to issue as much as 6 trillion yuan in bonds through 2027 mainly to refinance their off-balance-sheet debt. An earlier report by Caixin also cited a 6 trillion yuan figure but said the bonds would be issued by the central government rather than provinces.
彭博新闻本月早些时候报道称，中国正在考虑允许地方当局在 2027 年前发行高达 6 万亿元的债券，主要用于再融资其表外债务。财新早前的报道也提到了 6 万亿元的数字，但表示这些债券将由中央政府而非各省发行。