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China Plans $284 Billion Sovereign Debt to Lift Economy, Reuters Reports

An office worker smokes a cigarette in Shanghai, China, on Wednesday, Sept. 11, 2024. China’s central bank has announced a sweep of support for the economy, as pressure mounts on authorities to unleash stimulus and hit this year’s growth target of around 5%. Photographer: Qilai Shen/Bloomberg (Qilai Shen/Bloomberg)

(Bloomberg) -- China plans to issue 2 trillion yuan ($284.43 billion) of special sovereign bonds this year, Reuters reported, as policymakers unleash an urgent package of stimulus to revive the world’s No. 2 economy. 

The Ministry of Finance will split that funding equally between bonds mainly to stimulate consumption and those to help local governments tackle debt problems, Reuters said citing two sources familiar with the matter. 

 

©2024 Bloomberg L.P.

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