China plans stimulus package as lawmakers meet to address economic challenges

China's top lawmakers are meeting to discuss a significant stimulus package, with expectations it could increase if Donald Trump wins the U.S. presidential election. Recent measures have included rate cuts and easing home buying restrictions, but no specific stimulus figure has been announced.

Analysts anticipate lawmakers will approve around one trillion yuan ($140 billion) in additional budget funds, primarily for local governments. Another one trillion yuan may be allocated to banks to address non-performing loans. Concrete details are expected by the end of the week.

China faces internal economic challenges, including sluggish consumption and a troubled property sector. Local governments will now be required to report their debt situations annually, as authorities seek to address these ongoing issues.