I found this chart fascinating, given all the talk about excess Chinese debt. True, most of it is local government debt, but this chart highlights how much room Beijing has to stimulate in 2024 if it wants to.
The prevailing belief is that China is trying to take the surplus out of the property market, and this is certainly supported by the actions taken by China in 2023, but with inflation stable year on year and borrowing costs very low, it is only a matter of time until they can. Press the gas pedal.
China 30-year bonds