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China is poised to unveil a substantial fiscal stimulus package this Friday, as the National People's Congress (NPC) Standing Committee wraps up its session. This comes in the wake of Donald Trump’s recent election as U.S. president, which has heightened China’s focus on economic strategies.
What Happened: Finance Minister Lan Foan has proposed a significant increase in the debt ceiling for local governments to address hidden debts. The stimulus package may also include special sovereign bonds for major banks and local government bonds to buy unsold properties, South China Morning Post reported on Friday.
Vice-minister of finance Liao Min has hinted that the package could be substantial, with market estimates ranging from 6 trillion yuan to over 10 trillion yuan. Despite recent economic hurdles, senior ...
