China announced a nearly $1 trillion five-year plan aimed at alleviating local government debt and driving economic growth. The program will allocate funds annually and issue special bonds over five years to reduce hidden debt. Analysts view this as a meaningful effort, though some investors had hoped for more immediate fiscal support. Chinese authorities have increased stimulus measures since late September, with President Xi Jinping advocating for stronger fiscal and monetary support to stabilize the real estate market.
Category
🗞
NewsTranscript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02China announced a nearly $1 trillion five-year plan aimed at alleviating local government debt
00:08and driving economic growth. The program will allocate funds annually and issue special bonds
00:13over five years to reduce hidden debt. Analysts view this as a meaningful effort, though some
00:19investors had hoped for more immediate fiscal support. Chinese authorities have increased
00:23stimulus measures since late September, with President Xi Jinping advocating for stronger
00:28fiscal and monetary support to stabilize the real estate market.
00:32For all things money, visit Benzinga.com.