As China prepared to celebrate its Golden Week holiday and mark the 75th anniversary of the People’s Republic, the ruling Communist Party rolled out a raft of measures aimed at boosting its ailing economy.
The plans included help for the country’s crisis-hit property industry, support for the stock market, cash handouts for the poor and more government spending.
Shares in mainland China and Hong Kong chalked up record gains after the announcements. But economists warn the policies may not be enough to fix China’s economic problems.