China Reveals More Stimulus And Measures For Economic Recovery, No Word On Package Size
China on Saturday revealed that it plans to ‘significantly increase’ debt in order to help its economy recover, however, the country didn’t disclose any details on the size of the stimulus package.
Speaking in a press conference, Finance Minister Lan Foan, said that government will help local bodies in managing their debt problems, provide subsidies to individuals with low incomes, and give support to the property market. The official informed that as part of the revival measures, the government will also help replenish the capital of state banks, reported Reuters.
Notably, investors have been urging China to undertake such measures as its economy loses momentum and finds it difficult to overcome deflationary pressures and boost consumer confidence following a sharp plunge in the property ...