China approves 6 trillion yuan bond quota to tackle local hidden debts

China's government has approved a new bond quota of 6 trillion yuan (about $838 billion) to address local hidden debts. This move aims to reduce the total hidden debt from 14.3 trillion yuan to 2.3 trillion yuan by 2028. Despite this significant step, public interest in the stimulus measures has decreased since initial excitement. Recent press conferences by economic officials did not meet expectations, leading to a more subdued response from consumers and analysts. While the current stimulus approach marks a shift towards more proactive measures, it remains cautious. Experts note that the government's strategy does not reflect a "whatever it takes" mentality to quickly revive the economy.