China to announce new economic aid

China plans to launch new financial support policies to counteract economic growth slowdown, as part of the government's efforts to stimulate lending and support businesses and consumers. The expected measures include coordinated fiscal and monetary policies during the second half of the year, aiming to provide direct support to the local economy and achieve a growth rate between 4.5% and 5%. Previous programs have successfully lowered interest rates and provided loans exceeding 20 trillion yuan in the first seven months, along with boosting financing by 100 billion yuan. These measures come amid declines in industrial output, consumption, and investment, as the government seeks to amplify the economic impact while maintaining fiscal sustainability and controlling public debt.

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