China Reveals $1.4 Trillion Plan to Bail Out Local Governments
The Chinese government on Friday approved a $1.4 trillion plan to revive the economy, authorizing local governments to refinance crushing debts that have left some cities unable to pay their bills. The move caps a series of steps that China’s leaders started rolling out in September to stimulate growth.
China announces $1.4 trillion local government debt swap, bonds package
China Friday announced a $1.4 trillion economic stimulus that includes a three-year local government re-finance plan for what was described as hidden debt. But it fell short of what many investors believe is needed.
China just announced a $1.4 trillion plan to rescue its local governments
Friday's announcement is the latest in a string of stimulus measures China has taken to turn around its ailing economy.
China kicks off $1.4 trln in fiscal support with local government debt swaps
China kicked off a fresh round of fiscal support on Friday for its sputtering economy with a package that eases debt repayment strains for local governments, with Finance Minister Lan Foan signalling further stimulus in the pipeline.
China approves $839 billion refinancing of local government debt in fresh stimulus
Beijing is attempting to shore up support for a slowing Chinese economy that is facing new threats of tariff curbs after the re-election of Donald Trump as the US President.
China allocates billions to local governments to tackle hidden debt issues
NBC News' Janis Mackey Frayer in Beijing explains why China needs to revive its economy and prepare for a Trump administration.
Analysts react to China raising local government debt ceilings
China top legislative body approved a bill on Friday to allow local governments to issue 6 trillion yuan ($838.8 billion) in bonds to swap for off-balance sheet or "hidden" debt over three years, as policymakers sought to spur the sluggish economy.
China Unveils $1.4 Trillion Debt Swap, Saves Stimulus for Trump
China gave indebted local governments a 10 trillion yuan ($1.4 trillion) lifeline but stopped short of unleashing new stimulus, preserving room to respond to a potential trade war when Donald Trump takes office next year.
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China approves $840B plan to refinance local government debt, boost slowing economy
China is expected to announce much-anticipated steps to boost its flagging economy at the end of this week's meeting of its legislature on Friday.