SaltWire's Atlantic regional weather forecast for October 24, 2023 | SaltWireBEIJING - China has appointed Lan Foan, a technocrat with little central government experience, as the new finance minister, state media said on Tuesday, as the government ramps up fiscal stimulus in a bid to revive the economy.
China's top parliament body on Tuesday approved the issuance of 1 trillion yuan in sovereign bonds in the fourth quarter to fund rebuilding of areas hit by this year's floods, state media said, confirming an earlier Reuters report. The world's second-largest economy grew faster than expected in the third quarter, improving the chances Beijing can meet its growth target of around 5% for 2023.
Lan began his career at the finance department of the southern Guangdong province in 1985, after graduating from the Hubei University of Finance and Economics, and became a vice provincial chief in 2016, according to his profile.
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