China to approve more help for weak economy

By Agence France-Presse

Nov 09, 2024 12:15 am

BEIJING — China is expected to unveil a huge support package for the struggling economy on Friday as officials wrap up a key meeting with an eye on the possibility of intensified trade tensions with US President-elect Donald Trump.

Economists predict Beijing will approve hundreds of billions of dollars of help, with a focus on indebted local governments as well as cash for banks aimed at writing off nonperforming loans.

RESCUEPedestrians walk near an advertisement promoting a sales festival in Beijing on Nov. 7, 2024. China on Nov. 8 is expected to announce the implementation of measures aimed at boosting its struggling economy as they anticipate friction with the US following the election of Donald Trump. AP PHOTO

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