China rolls out new stimulus measures as Covid pressures economy

China's financial support for lockdown-stricken areas has mostly gone to companies rather than households. - Reuters

BEIJING (Bloomberg): China rolled out a broad package of measures to support businesses and stimulate demand as it seeks to offset the damage from Covid lockdowns on the world’s second-largest economy.

The 33-point package include 140 billion yuan (US$21 billion) in additional tax rebates and 300 billion yuan in railway construction bonds, Xinhua News Agency reported, citing a decision from a meeting of China’s State Council, the cabinet, chaired by Premier Li Keqiang.