China announces meeting to disclose fiscal stimulus information.

• The highly anticipated meeting of China's parliament will take place from November 4 to 8, as stated by state media on Friday, according to a CNBC translation.
• In October, the committee's meeting resulted in a 0.8% increase in China's fiscal deficit, which was already at 3%.
• If China wants to proceed with adjusting the national budget or deficit, it is crucial to hold a parliamentary meeting, according to Bruce Pang, the chief economist and head of research for Greater China at JLL.

The highly anticipated meeting of China's parliament will take place from November 4th to 8th, as stated by the media.

The standing committee of the National People's Congress is expected to announce details on any fiscal stimulus, which investors have been eagerly anticipating.

In late October, the committee witnessed a rare increase in China's fiscal deficit to 3.8%, from 3%, which was later reported by state media.

If China wants to proceed with adjusting the national budget or deficit, it is crucial to hold a parliamentary meeting, according to Bruce Pang, the chief economist and head of research for Greater China at JLL.

The need for more fiscal support has been emphasized by the Chinese government's stimulus measures in the last month.

The meeting of top leaders in late September, led by Chinese President Xi Jinping, resulted in remarks calling for stronger fiscal and monetary policies.

Since the late-September meetings, Chinese stocks have surged, but trading has become volatile due to the absence of more concrete measures.

The upcoming parliamentary meeting should confirm the budget adjustments and any planned bond issuance, as stated by Pang.

Instead of directly boosting consumption through large-scale fiscal stimulus, analysts believe that struggling local governments will receive support first, and consumption may not be as directly impacted.

In the first three quarters of 2024, China's economy grew by an annual 4.8%, slightly slower than the 5% pace observed in the first half of the year. Beijing aims to achieve around 5% economic growth for the full year.