China’s National People’s Congress (NPC) concludes its legislative session today, with a briefing scheduled for 4 p.m. in Beijing, which is expected to present a plan to refinance local government debt. The Budget Committee and the Department of Finance are expected to address concerns about off-balance sheet debt, with the goal of providing local governments with more fiscal flexibility.

Both the CSI 300 Index and the Hang Seng Index fell slightly after the briefing, reflecting investor caution. Finance Minister Lan Fo’an previously indicated additional measures to support local economies, hinting at the refinancing plan amid signs of a slowdown in the growth rate, which fell to 4.6 percent in the third quarter.

Investors are closely watching 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 of the implications for China’s fiscal landscape and economic outlook.