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China plans major stimulus package as Trump returns to White House

benzinga.com — November 8, 2024 at 10:01 AM UTC

China plans to announce a large fiscal stimulus package on Friday, coinciding with the conclusion of the National People's Congress session. This move follows Donald Trump's election as U.S. president, prompting China to reassess its economic strategies. Finance Minister Lan Foan has suggested raising the debt ceiling for local governments to manage hidden debts. The package may include special bonds for banks and local governments to purchase unsold properties, with estimates ranging from 6 trillion to over 10 trillion yuan. This stimulus comes amid concerns over potential U.S. trade policies under Trump, who proposed significant tariffs on Chinese imports. The announcement aims to bolster investor confidence in Chinese stocks, which have recently shown signs of recovery.

With a significance score of 5.6, this news ranks in the top 1% of today's 18017 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 9000 minimalists.

Timeline:

[5.5]

China launches plan to swap six trillion yuan of local government hidden debt (hindustantimes.com)

124d 10h

[4.3]

China announces £1.1 trillion bailout to support struggling economy (express.co.uk)

124d 16h

[4.9]

China approves 6 trillion yuan bond quota to tackle local hidden debts (scmp.com)

125d 9h

[4.7]

China launches $1.4 trillion debt relief plan for local governments (timesofindia.indiatimes.com)

125d 14h

[4.9]

China launches $1.4 trillion debt refinancing program to support slowing economy (cnbctv18.com)

125d 19h

[4.3]

China unveils £1.1 trillion fiscal package to support economy amid trade tensions (express.co.uk)

125d 21h

[5.6]

China announces 10 trillion yuan support package for local governments facing debt crisis (theguardian.com)

125d 22h

[5.1]

China announces $1.4 trillion debt package to support local governments (thenews.com.pk)

125d 23h

[5.2]

China unveils 6 trillion yuan stimulus plan to tackle local debt but stocks decline (benzinga.com)

126d 0h

[6.0]

China announces $1.40 trillion debt package to support local governments (theglobeandmail.com)

126d 2h

[5.1]

China announces 6 trillion yuan financial package to boost economy (euronews.com)

126d 2h

[4.9]

China approves $839 billion debt swap plan to support local governments (cnbctv18.com)

126d 3h

[5.6]

China plans major stimulus package as Trump returns to White House (benzinga.com)

126d 5h

[5.4]

China allocates $840 billion to local governments to address hidden debt issues (nbcnews.com)

126d 5h

[5.5]

China unveils $1.4 trillion plan to support local governments' debt management (businessinsider.com)

126d 5h

[4.0]

China signals potential fiscal stimulus after Trump wins US election (scmp.com)

126d 6h

[5.8]

China prepares to announce economic stimulus package to boost recovery (apnews.com)

126d 9h

[4.1]

China's National People's Congress set to conclude meeting with fiscal package announcement expected (forexlive.com)

126d 9h

[4.7]

China prepares to announce major economic support package as officials conclude key meeting (legit.ng)

126d 10h

[4.9]

China to announce fiscal stimulus plans as legislative session concludes (scmp.com)

126d 10h

[5.4]

China set to unveil new fiscal stimulus package after parliamentary meeting (cnbc.com)

126d 11h

[4.9]

China plans major economic measures to boost post-COVID recovery (livemint.com)

126d 12h

[5.1]

China plans economic stimulus package to boost recovery efforts (independent.co.uk)

126d 13h

[5.1]

China prepares to announce economic stimulus package to boost growth (abcnews.go.com)

126d 13h

[4.9]

China's lawmakers discuss economic stimulus package as U.S. elections approach (nzherald.co.nz)

130d 9h

[5.7]

China plans stimulus package as lawmakers meet to address economic challenges (sg.news.yahoo.com)

130d 12h