News-News.Zip

News in English (USA) / 26.09.2024 / 19:00

China Announces Major Economic Stimulus Plans Amid Economic Struggles

In a bid to kickstart its slowing economy, China plans to issue $284 billion in sovereign debt this year, alongside a potential $142 billion capital injection into its top banks. This move marks the first significant aid to banks since the 2008 financial crisis, highlighting the government's commitment to support financial institutions grappling with economic challenges and property market woes. The capital injection is expected to bolster six major commercial banks, and there are discussions on enticing global investors as part of this fiscal aid package. Chinese authorities aim to revive economic growth and alleviate concerns about the banking sector's stability as the nation faces ongoing economic pressures.
Reuters, Bloomberg, The Associated Press, Yahoo Finance, Hindustan Times, Finimize, Xinhua, The Banker, U.S News & World Report Money, FXStreet