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In September 2024, the Chinese government has planned to issue 2 trillion yuan ($284.43 billion USD) in special sovereign bonds and cut 50 basis points to stimulate the economy. Other stimulus measures include consumer subsidies such as a monthly allowance of 800 yuan ($114 USD) per child to all households with two or more children, excluding ...
Reuters reported last month that China plans to issue special sovereign bonds worth about 2 trillion yuan ($284.43 billion) this year as part of fresh fiscal stimulus.
The yuan currency jumped to a 16-month high against the dollar. ... by 50 basis points (bps), freeing up about 1 trillion yuan ($142 billion) for new lending. ...
In 2010, China's annual level of inward foreign direct investment (FDI) reached a record US$106 billion. [2] As of 2013, China is the world's second-largest economy, with an estimated nominal gross domestic product (GDP) of US$8.25 trillion and a total international trade value of US$3.64 trillion.
Correction: An earlier version of this story incorrectly stated the US dollar conversion for 1 trillion yuan. It is $142 billion. For more CNN news and newsletters create an account at CNN.com.
In 2023, aggregate local government debt had risen to 92 trillion yuan ($12.58 trillion) and the central government of People's Republic of China ordered its banks to roll over debts in a debt-restructuring. [18] China's gross external debt in 2023 was $2.38 trillion. [19]
An average of 2 trillion yuan in new central government debt annually underscores an urgency in Beijing to shore up the economy. Late in 2023, China issued 1 trillion yuan in sovereign bonds to ...
The People's Bank of China lowered the renminbi's daily fix to the US dollar by 1.9 per cent to ¥6.2298 on 11 August 2015. The People's Bank of China again lowered the renminbi's daily fix to the US dollar from ¥6.620 to ¥6.6375 after Brexit on 27 June 2016. It had not been this low since December 2010.