China's finance minister says there is room for more economic stimulus but offers no plan

, Finance Minister Lan Fo'an said Saturday, but he stopped short of unveiling a major new stimulus plan that analysts and stock investors were hoping for.

“There are other policy tools that are being discussed that are still in the pipeline,” he said at a news conference, adding that there is “ample room” in the government budget to raise debt and increase the deficit.at the end of 2022. Companies have cut back on hiring and wages and a prolonged downturn in the property market has deflated consumer confidence, curbing spending.

The finance minister instead said the government would roll out a package of incremental measures to speed up implementation of its existing policies. Former Peruvian President Alejandro Toledo on Friday reappeared in a courtroom built exclusively for judging high-ranking dignitaries to testify in a trial for allegedly receiving several million dollars from Brazilian construction company Odebrecht.

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