China announces policies to boost slowing economy toward 4.5% growth
Business
China just announced a fresh set of policies to give its slowing economy a much-needed push.
After growth numbers missed the mark this quarter, thanks to low spending and weak investment, the government says it's rolling out "practical and effective" steps to get closer to its 4.5% growth target for the year.
China allows tapping unused bond quotas
Officials are allowed to tap unused bond quota left from previous years, and raising central bank support, especially for tech, farming, and small businesses.
There's also a focus on steadying the housing market and helping people find jobs or earn more.
Investors seem optimistic so far (property stocks jumped and the yuan got a little stronger), but experts think these moves will be more targeted than past big stimulus packages.