China unveiled stimulus measures to boost an economy blighted by a years-long property sector crisis and chronically low consumption (ADEK BERRY)
China said Saturday it would issue special bonds to help its sputtering economy, signalling a spending spree to bolster banks, shore up the property market and ease local government debt as part of one of its biggest support packages in years.
The plan is part of a series of actions undertaken by Beijing to draw a line under a years-long property sector crisis and chronically low consumption that has plagued the world’s second biggest economy.
Beijing’s planned special bonds are aimed at boosting the capital available to banks — part of a push to get them lending in the hopes of firing up sluggish consumer spending.
China is also preparing to allow local governments to borrow more to fund the acquisition of unused land for development, aimed…
