China plans new economic stimulus measures following stock market rally

Chinese economic policymakers will detail new growth-boosting measures on Tuesday, following a strong stock market rally after last month's stimulus announcements. The government aims for around five percent growth this year amid challenges like a housing crisis and weak consumer spending. Recent measures include interest rate cuts and relaxed housing restrictions to stimulate the economy. The Hang Seng Index rose 1.6% on Monday, while mainland markets are set to reopen after a holiday. Analysts expect further fiscal support but stress the need for deeper economic reforms. The central bank has reduced loan interest rates and eased cash requirements for lenders. Major cities have also relaxed home-buying rules. Experts warn that without significant reforms, the market rally may not lead to lasting economic improvement.