Business News of Friday, 11 October 2024
Source: bloomberg
Investors expect China to announce up to 2 trillion yuan ($283 billion) in new fiscal stimulus, likely through government bonds, to boost its economy.
The stimulus targets consumption, including subsidies and support for families and vulnerable groups, rather than the traditional focus on real estate and infrastructure.
Economists stress the need to address China's property slump and local government debt.
While China has already cut interest rates and supported markets, fiscal measures are essential to lifting confidence rebalancing the economy towards domestic demand, and reducing reliance on exports.