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 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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5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.theguardian.com — the content belongs to The Guardian Business.
