China Market Update: Reuters' RMB 10 Trillion Stimulus Article Lifts US-Listed China Stocks Pre-Market [Forbes]
Li Auto Inc. - American Depositary Shares (LI)
Company Research
Source: Forbes
The most important news item occurred after the market close as Reuters reported the NPC will approve RMB 10 trillion ($1.4 trillion) of fiscal stimulus, the equivalent to 8% of GDP via special bond issuance, sending US-China ADRs higher pre-market. The bond issuance would: Be spread out over three years with RMB 6 trillion of “the proceeds primarily being used to help local governments address off-the-books debt risk” “4 trillion worth of special-purpose bonds for idle land and property purchases over the next five years” A separate RMB 1 trillion “as a consumption boost including trade-in and renewal of consumer goods” “Another trillion to bolster banks' balance sheets" The Reuters article is based upon “two sources with knowledge of the matter,” though they cautioned that “the plans are not finalized and remain subject to changes.” Prior to the Reuters release, Mainland media source Yicai wrote today about the Ministry of Finance's plans to address “local government hidd
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LI
Sec Filings
- 11/13/24 - Form 144
- 11/6/24 - Form 6-K
- 11/1/24 - Form 6-K
- LI's page on the SEC website