China prepares to announce economic stimulus package to boost recovery

China is set to announce a new economic stimulus package on Friday, following a meeting of its legislature. This comes as the country seeks to boost its economy, which has struggled to recover from the COVID-19 pandemic. Recent measures, including easing borrowing restrictions, have led to a stock market rally. However, analysts believe more substantial actions are necessary for a sustained recovery. The government has indicated that significant spending could be approved at this week's meeting. While there have been positive signs, such as increased auto sales and a rise in exports, the ruling Communist Party has focused on long-term economic goals. The party's recent concerns about sluggish growth suggest a shift towards more immediate economic support.