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

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China's finance minister says the government is looking at additional ways to boost the economy, but he didn't unveil a major new stimulus plan at a news conference Saturday. Stock investors and analysts have been hoping for a plan of up to 2 trillion yuan, or about $280 million.

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“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.

 

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