China to unveil much-anticipated economic stimulus package

Associated Press

BEIJING (AP) — China is expected to announce much-anticipated steps to boost its flagging economy at the end of this week’s meeting of its legislature on Friday. Analysts say bold, multi-trillion yuan measures are needed to reinvigorate the world’s second largest economy, which has yet to bounce back fully from the COVID-19 pandemic. The central bank loosened restrictions on borrowing in late September, sparking a stock market rally, but economists say the government needs to do more to ignite a sustained recovery. Government officials have indicated that could come at this week’s meeting of the Standing Committee of the National People’s Congress.