China To Increase Debt To Support Stimulus Package
China's finance ministry has announced new stimulus measures to support low income people, the property market and state banks. Beijing didn't reveal the size of the injection, but did say it was willing to increase government debt issuance to help revive the economy.
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00:00China has announced it will issue more government debt to revive the country's stalling economy.
00:05At a press conference on Saturday, China's finance ministry says it plans to offer subsidies
00:09to people with low incomes, support the property market and replenish state banks' capital,
00:15though it stopped short of specifying the size of the fiscal stimulus.
00:19China's economy has been struggling amid an alien property market and frail consumer
00:24confidence.