Tokyo | China announced on Friday trillions of yuan to support heavily indebted local governments, as it tries to support its already faltering economy bracing for new risks from incoming US president Donald Trump.
The government pledged the 6 trillion yuan ($1.26 trillion) fiscal package to help China’s leveraged local governments restructure their finances in a bid to shore up the world’s second-largest economy.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
