China announces 19 new policies in a bid to bolster economic growth

China announced 19 new policies Wednesday aimed at beefing up efforts to rescue economic growth, which is weakening again with a resurgence in Covid cases, a deepening property crisis and now power shortages spurred by a severe drought.
 

The measures -- unveiled by the State Council, the country’s Cabinet -- include more than 1 trillion yuan ($146 billion) in new funding to boost investment and consumption, as well as more flexibility for local authorities to support the real estate market. They also contain policies intended to clear logistical hurdles and help businesses move personnel across borders more easily.

The package