In an effort to boost economic growth, China announced on Saturday its plans to increase government debt issuance significantly. This move aims to provide subsidies to low-income individuals, support the property market, and bolster state banks’ capital.
Finance Minister Lan Foan revealed that more “counter-cyclical measures” will be implemented this year, although specific details about the fiscal stimulus were not disclosed during the news conference.
The lack of clarity regarding China’s stimulus plans has kept global financial markets on edge. Investors and analysts are eagerly awaiting more information as concerns mount over the country’s 2024 economic growth target and long-term trajectory.
Portfolio Manager Rong Ren Goh from Eastspring Investments in Singapore commented on the press briefing from China’s finance ministry, highlighting investors’ expectations for concrete numbers and commitments in terms of fresh stimulus.
Date: 2024-10-11 22:24:44
Source: finance.yahoo.com
