China Plans Significant Fiscal Stimulus to Boost Economic Growth
China Plans Significant Fiscal Stimulus to Boost Economic Growth Source – moneycontrol.com China Announces Fiscal Stimulus to Counter Economic Challenges China is set to significantly increase government debt issuance in an effort to revive its slowing economy. The stimulus will aim to provide support to low-income individuals, boost the struggling property market , and strengthen state-owned banks’ capital reserves. Speaking at a press conference on Saturday, Finance Minister Lan Foan indicated that the government will implement more “counter-cyclical measures” throughout the year, although he did not provide specific figures for the planned fiscal stimulus. “There is still relatively big room for China to issue debt,” Lan said. His remarks highlight the urgent need for action as China faces deflationary pressures, a downturn in its property market, and weakened consumer confidence. These issues have exposed the country’s heavy dependence on exports, which have been impact...