Chinese finance minister to deliver highly anticipated briefing on stimulus

Published On Oct 11, 2024, 9:57 PM

China's Finance Minister Lan Fo'an is set to hold a significant press conference regarding new measures to support the economy, amid growing calls for more fiscal stimulus. Analysts suggest that the country requires between 2 to 10 trillion yuan ($283 billion to over $1.4 trillion) in additional fiscal support. The anticipated announcements come after a series of recent high-level policy meetings. However, uncertainty remains regarding how quickly any stimulus can be enacted, as it would often need parliamentary approval. The current economic situation is concerning, with modest growth in retail sales and ongoing struggles in the real estate sector, leading to predictions that China may not meet its GDP growth target of around 5% for the year.