China approves $840B plan to refinance local government debt, boost slowing economy
China has announced a 6 trillion yuan ($839 billion) plan to help local governments refinance their mountains of debt in the latest push to rev up growth in the world's second largest economy
Analysts react to China raising local government debt ceilings
China top legislative body approved a bill on Friday to allow local governments to issue 6 trillion yuan ($838.8 billion) in bonds to swap for off-balance sheet or "hidden" debt over three years, as policymakers sought to spur the sluggish economy.
China Reveals $1.4 Trillion Plan to Bail Out Local Governments
The support package came after smaller measures were announced to jump-start growth. Economists said it was not big enough to address China’s sluggish economy.
China just announced a $1.4 trillion plan to rescue its local governments
Friday's announcement is the latest in a string of stimulus measures China has taken to turn around its ailing economy.
China unveils $1.4T stimulus package to ease massive local government debt
China has unveiled a $1.4T stimulus package over five years to ease the heavy debt burdens of local governments and support economic growth. The measures were announced after the parliament ended its five-day meeting in Beijing on Friday.
China kicks off $1.4 trln in fiscal support with local government debt swaps
China kicked off a fresh round of fiscal support on Friday for its sputtering economy with a package that eases debt repayment strains for local governments, with Finance Minister Lan Foan signalling further stimulus in the pipeline.
Business News LIVE Updates Today November 10, 2024: China unveils new ‘hidden debt’ scheme for local governments
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China’s stimulus falls short, as a showdown with Trump looms
Lan Fo’an, China’s finance minister, said that local governments would be allowed to issue extra bonds worth trillions of ...