Beijing directs fiscal firepower at itself

China plans to issue special sovereign bonds worth 2 trillion yuan ($284.4 billion) as part of a new fiscal stimulus package. While this move, along with recent central bank easing measures, aims to boost economic growth, analysts suggest it may not be sufficient to significantly alter the country’s long-term economic prospects. The package, equating to 1.4% of last year’s GDP, falls short of the more substantial stimulus some economists had hoped for. Details on fund allocation remain limited.READ FULL