China prepares £40bn stimulus for financial sector amid fears over sluggish growth
Beijing wants banks and insurers to bolster investment in stock market as it helps to replenish cash reserves
1 min read
Executive DigestOriginal Reporting by The Guardian World
This is a curated overview of the story reported by The Guardian World. Full text remains copyright of the publisher.
Read Full Story on The Guardian World →Beijing wants banks and insurers to bolster investment in stock market as it helps to replenish cash reserves
China will inject $54bn (£40bn) into its financial sector as Beijing attempts to shore up banks and insurers in the face of faltering economic growth.
A host of financial institutions said they were due to receive billions of yuan in capital from state institutions including the ministry of finance and even the company that runs the country’s tobacco monopoly.
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