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
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.
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 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 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 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.
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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 ...