China set to unveil new fiscal stimulus package after parliamentary meeting

China is expected to announce a new fiscal stimulus package following a five-day meeting of its parliament. This comes as authorities have increased stimulus efforts since late September to support the struggling economy. The People's Bank of China has already cut interest rates, but significant government spending requires approval from the National People's Congress. A similar meeting last October resulted in a rare increase in the budget deficit. Expectations for the stimulus have risen after Donald Trump's recent election win, which raised concerns about tariffs on Chinese goods. However, some analysts caution that Beijing may take a conservative approach and avoid direct consumer support.