Beijing Reuters —
China 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.
Without providing details on the size of the fiscal stimulus being prepared, Finance Minister Lan Foan told a news conference on Saturday there will be more “counter-cyclical measures” this year.
“There is still relatively big room for China to issue debt,” he said.
The world’s second-largest economy faces strong deflationary pressures due to a sharp property market downturn and frail consumer confidence, which have
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