China adds 1 trn yuan more of stimulus to rescue economy, bolster growth

China stepped up its economic stimulus with a further 1 trillion yuan of measures to bolster growth and curb the fallout of repeated Covid lockdowns and the crisis in the property market

China stepped up its economic stimulus with a further 1 trillion yuan ($146 billion) of measures to bolster growth and curb the fallout of repeated Covid lockdowns and the crisis in the property market.
 

The State Council, China’s Cabinet, outlined a 19-point policy package on Wednesday, including another 300 billion yuan that state policy banks can invest in infrastructure projects, on top of 300 billion yuan already announced at the end of June. Local governments will be allocated 500 billion yuan of special bonds from previously unused quota.

At a meeting chaired by Premier Li Keqiang, the