China to Ignite Economic Growth with 2 Trillion Yuan Bond Issuance

China's finance ministry is set to unveil plans for fiscal stimulus to boost a struggling economy. This follows recent monetary stimulus efforts. Finance Minister Lan Fo'an will outline measures aimed at achieving high-quality economic development. Special bonds worth approximately 2 trillion yuan are anticipated.

China's finance ministry is poised to unveil a series of fiscal stimulus measures aimed at revitalizing its sluggish economy. The announcement, scheduled for Saturday, follows recent efforts by the central bank and regulators to introduce monetary measures.

In response to mounting anticipation, Finance Minister Lan Fo'an is expected to discuss the government's approach to 'intensifying countercyclical adjustment of fiscal policy' to achieve high-quality economic development, as reported by the State Council Information Office.

Highlighting the urgent need for action, reports indicate that China plans to issue special bonds amounting to roughly 2 trillion yuan, equivalent to $283.43 billion, following economic underperformance in the latter half of the year. This move aims to meet the government's growth target of approximately 5%.

(With inputs from agencies.)