China said on Saturday it would issue more debt to boost the property market, recapitalise banks and help cash-strapped local governments, as Beijing seeks to reassure investors over its efforts to lift the economy.
Announcing the measures at a briefing in Beijing, Minister of Finance Lan Fo’an gave few details on the amount of funding but suggested that the government plans more stimulus measures to shore up growth.
“Our countercyclical adjustment goes far beyond what I have mentioned,” Lan told reporters, adding that more steps were under discussion. “The central government, when it comes to increasing the deficit and increasing debt, we have significant room.”
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