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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Chinese shares soar, then fade as Beijing stimulus plans fall shortTOKYO (AP) — Shares soared Tuesday in Shanghai as Chinese markets reopened after a weeklong holiday but then gave up a chunk of their initial gains as the...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Chinese Chip Stocks Gain $13 Billion on Talk of Beijing Stimulus(Bloomberg) -- Top Chinese chipmaker Semiconductor Manufacturing International Corp. led a $13 billion sector rally, after investors bet that Beijing will...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »