China's NPC Standing Committee Meeting

By Liz Lee

BEIJING (Reuters) – China's top legislative body is set to meet from Nov. 4-8, according to state news agency Xinhua. The agenda does not include highly anticipated debt and fiscal measures.

Draft laws and amendments for discussion will cover various areas, including mineral resources, energy, anti-money laundering efforts, and maritime issues, as per Xinhua.

However, the agenda is notably absent any mention of measures previously flagged by Finance Minister Lan Foan, who indicated earlier this month that China would "significantly increase" government debt alongside support for consumers and the property sector.

Investors are expressing disappointment over the lack of details regarding the size and timing of any proposed fiscal stimulus.

Last week, Caixin Global reported that China might raise 6 trillion yuan (~$842.32 billion) through special treasury bonds over three years to stimulate the faltering economy. This announcement failed to boost sentiment in the stock market.

Additionally, Reuters reported last month that China plans to issue special sovereign bonds valued at around 2 trillion yuan (~$284.43 billion) this year as part of new stimulus efforts.

The upcoming meeting will also review the State Council's financial work report, the management of state-owned assets, and a special report on the administrative activities of state-owned assets from the previous year, as stated by Xinhua.

Matters regarding the appointments and removals of officials will also be deliberated at the meeting.

($1 = 7.1232 Chinese yuan renminbi)