China offers $481.4b in fiscal stimulus for its ailing economy

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China offers $481.4b in fiscal stimulus for its ailing economy

China offers $481.4b in fiscal stimulus for its ailing economy

The Chinese Government said Saturday it will make $481.4 billion in fiscal support available to its economy over the next three months, offering help to bolster banks, shore up the property market and free up consumption spending in Beijing’s biggest aid programme since the global financial crisis.

The highly anticipated stimulus came on top of a series of measures announced over the last weeks that have included interest rate cuts and liquidity for banks.

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