scorecardresearchChina Adds 1 Trillion Yuan More of Stimulus to Rescue Growth

China Adds 1 Trillion Yuan More of Stimulus to Rescue Growth

Updated: 25 Aug 2022, 09:32 AM IST
TL;DR.
China stepped up its economic stimulus with a further 1 trillion yuan ($146 billion) of funding largely focused on infrastructure spending, support that likely won’t go far enough to counter the damage from repeated Covid lockdowns and a property market slump.
A man wearing a face mask walks by a banner that reads Prosperous shop for rent hangs on a vacant shop lot in Beijing, Wednesday, Aug. 17, 2022. Factories in China's southwest have shut down after reservoirs used to generate hydropower ran low in a worsening drought, adding to economic strains at a time when President Xi Jinping is trying to extend his position in power. (AP Photo/Andy Wong)

A man wearing a face mask walks by a banner that reads Prosperous shop for rent hangs on a vacant shop lot in Beijing, Wednesday, Aug. 17, 2022. Factories in China's southwest have shut down after reservoirs used to generate hydropower ran low in a worsening drought, adding to economic strains at a time when President Xi Jinping is trying to extend his position in power. (AP Photo/Andy Wong)