China prepares £40bn stimulus for financial sector amid fears over sluggish growth
China is injecting $54 billion into its financial sector to bolster banks and insurers amid concerns over sluggish economic growth. The stimulus aims to encourage investment in the stock market and support business lending.
Why it matters
As the world's second-largest economy, China's financial stability has global implications for trade and market performance.
A Chinese national flag raised outside a bank’s headquarters in the financial district of central Beijing. A Chinese national flag raised outside a bank’s headquarters in the financial district of central Beijing. China China prepares £40bn stimulus for financial sector amid fears over sluggish growth Beijing wants banks and insurers to bolster investment in stock market as it helps to replenish cash reserves
Prefer the Guardian on Google China will inject $54bn (£40bn) into its financial sector as Beijing attempts to shore up banks and insurers in the face of faltering economic growth.
A host of financial institutions said they were due to receive billions of yuan in capital from state institutions including the ministry of finance and even the company that runs the country’s tobacco monopoly.
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