China Prepares Major Fiscal Stimulus Amid Global Uncertainty

China's lawmakers are meeting to approve a significant fiscal stimulus package aimed at boosting the economy, which has been struggling due to a prolonged property slump and local government debt issues. The package, expected to be the largest since the pandemic, will focus on resolving local government debt and stimulating domestic demand. Analysts suggest China needs to spend up to Rmb10tn over three years, but caution that the measures may not significantly boost demand or consumer confidence. The National People's Congress is expected to announce details of the package soon.