China’s National People’s Congress (NPC) concludes its legislative session today, with a briefing scheduled at 4 p.m. in Beijing expected to introduce a debt refinance plan for local governments. The Budget Committee and Finance Ministry are set to address concerns around off-balance-sheet debt, aiming to provide local governments with more fiscal flexibility.

The CSI 300 Index and Hang Seng Index both edged lower following the announcement of this briefing, reflecting investor caution. Finance Minister Lan Fo’an previously indicated additional measures to support local economies, hinting at this refinancing plan amid signs of a slowing growth rate, which fell to 4.6% in Q3.

Investors are closely watching for policy details, as China strives to meet its annual growth target of around 5%. This live blog will cover all developments from the briefing and provide real-time analysis on the implications for China’s fiscal landscape and economic outlook.