Tidbits
Independent financial news service, Caixin Global, reported China’s Ministry of Finance (MOF) announced yesterday policies for local governments to buy land and housing from property developers and promised intensive support to help localities with their hidden debts.
These highly anticipated fiscal measures are expected to complement a slate of monetary and other initiatives announced by the country’s central bank last month to boost the sluggish economic recovery.
China’s MOF also pledged to issue special treasury bonds to help major state-owned commercial banks supplement their core capital. Read about the far-reaching stimulus package at this link.