In a press briefing, China's finance minister revealed plans for new fiscal measures aimed at bolstering local governments, tackling debt, and stimulating the property market.
China's minister of finance noted there is 'considerable room' for increasing government debt issuance to address debt risks and stimulate growth amid deflation.
JPMorgan's Asia Investment Strategy team highlighted that recent measures signify a 'greater sense of urgency' to restore consumer confidence and revive the sluggish economy.
Investment manager Huang Yan stated, 'The strength of the announced fiscal stimulus plan is weaker than expected,' citing a lack of details like timeline and funding amounts.
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