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China’s Ministry of Finance is holding a press conference on Saturday morning.
The ministry has not yet released a specific figure for fiscal stimulus, but officials have spoken about defusing local debt risks and stabilising the property market, adding the central government “has room” for further action and higher deficits. A specific figure for fiscal stimulus has yet to be revealed.
The conference follows announcements of stimulus plans from other state bodies, with the People’s Bank of China unveiling cuts to mortgage rates and the National Development and Reform Commission advancing 100 billion yuan (US$14.14 billion) from the central budget for 2025.
More from our coverage:
– China to tap stimulus arsenal with bond-purchase mechanism, finance briefing
– China sets upbeat tone after meetings despite lack of supercharged stimulus
– China’s commitment to economy not undermined in absence of large stimulus: analysts
– China economic planner confident on growth, to front-load 100 billion yuan: as it happened
– How China’s 2024 stimulus compares with past packages, and what’s next?