SINGAPORE (Reuters) -China said on Saturday it will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth. Finance Minister Lan Foan told a news conference there will be more “counter-cyclical measures” this year, but…
Shares in China slumped overnight as details of economic stimulus plans from officials in Beijing failed to live up to investors’ expectations. The Shanghai Composite (000001.SS) was 6.6% down by the end of the session and the The Shenzhen Composite Index on China’s second exchange tumbled 8.1%, its sharpest fall since May 1997. Elsewhere, the…
China urgently needs a fiscal policy package to fully boost market confidence following stimulus measures announced last week, a former central bank adviser has urged. “I think the ball is now in the Ministry of Finance’s court. We hope to see new actions from them,” outspoken economist Yu Yongding told a forum in Beijing on…
By Liangping Gao, Ellen Zhang and Marius Zaharia BEIJING/HONG KONG (Reuters) – China’s central bank has shifted to a more aggressive easing stance, but its policy weapons don’t have the key enemy to economic growth in their line of sight: the persistently weak consumer demand. The liquidity injections and the lower borrowing costs flagged by…