The meeting of the Standing Committee of the National People’s Congress in China, where decisions are expected to be made regarding monetary expansion policies, will be held on November 4-8. It is not lost on the eye that this meeting will coincide with the US elections on November 5 and the Fed interest rate decision on November 7. Therefore, it is obvious that the first week of November will create volatile times in financial terms…

In the committee meeting held in October last year, it was decided to increase China’s financial debt deficit from 3% to 3.8%. Therefore, this meeting is also of great importance in terms of the decision to make the parliament reorganize the debt deficit or the national budget.

As it is known, since China has not yet reached the growth figures for 2024, it plans to make various arrangements in this regard and especially to support the construction sector, which is in a bad situation.

The details given in the press conferences held by both the central bank and the finance minister in the past weeks did not convince the world financial markets. However, much more effective and clear decisions are expected to be made in this meeting.

The first statements regarding the financial support package in China were made in September and then there were serious increases in Chinese stocks. Chinese media reported that the state planned to support both households and the construction sector by issuing long-term bonds. The financial stimulus package is expected to reach up to $850 billion over the next 3 years.