*Chinese lawmakers* have agreed to raise the local government debt ceiling by $840 billion, *opening up new funds for its ailing economy* .
The move would raise _"the local government debt limit by six trillion yuan, which will be used to replace existing hidden debts, freeing up space for local governments to better develop the economy and protect people's livelihood,"_ *state broadcaster CCTV* said.
The stimulus package comes as *Beijing eyes the possibility of intensified trade tensions with the United States* , after president-elect Donald Trump vowed to slap punishing tariffs on Chinese goods.
Observers say Beijing could seek to cushion that trade blow with *a long-awaited "bazooka stimulus" for the economy* .
The move would raise _"the local government debt limit by six trillion yuan, which will be used to replace existing hidden debts, freeing up space for local governments to better develop the economy and protect people's livelihood,"_ *state broadcaster CCTV* said.
The stimulus package comes as *Beijing eyes the possibility of intensified trade tensions with the United States* , after president-elect Donald Trump vowed to slap punishing tariffs on Chinese goods.
Observers say Beijing could seek to cushion that trade blow with *a long-awaited "bazooka stimulus" for the economy* .
*Chinese lawmakers* have agreed to raise the local government debt ceiling by $840 billion, *opening up new funds for its ailing economy* .
🇨🇳 The move would raise _"the local government debt limit by six trillion yuan, which will be used to replace existing hidden debts, freeing up space for local governments to better develop the economy and protect people's livelihood,"_ *state broadcaster CCTV* said.
🇺🇸 The stimulus package comes as *Beijing eyes the possibility of intensified trade tensions with the United States* , after president-elect Donald Trump vowed to slap punishing tariffs on Chinese goods.
💰 Observers say Beijing could seek to cushion that trade blow with *a long-awaited "bazooka stimulus" for the economy* .
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