China’s finance ministry to detail fiscal stimulus plans on Saturday

China’s finance ministry to detail fiscal stimulus plans on Saturday

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China’s finance ministry will hold a news conference on Saturday to provide details on fiscal stimulus measures aimed at reviving the faltering economy.

Finance Minister Lan Fo’an will lead the session, where the ministry is expected to outline countercyclical fiscal policies.

Markets have been anticipating these announcements following recent monetary stimulus actions and steps to support the property market.

China plans to issue special bonds worth 2 trillion yuan ($283.43 billion) to help spur growth and meet its target of around 5% GDP growth for the year.

This article was written by Ryan Paisey at www.forexlive.com.