China approves $837 billion debt package to boost its flagging economy

  • CNN
  • November 8, 2024
Hong Kong

CNN

 — 

China has approved a six trillion yuan ($837 billion) plan to bolster its ailing economy by allowing local governments to swap out their hidden debt.

The announcement was made on Friday at the conclusion of a five-day meeting by China's top legislative body, the Standing Committee of the National People's Congress.