The outlook is grim for the world’s second largest economy, with growth slowing and the prospect of a new trade war following Donald Trump’s electoral victory.

Still, the longer-term goals of transforming China into a high-tech and green energy economy seem likely to remain the chief aims of the Communist Party, which doesn't face election pressures like the ones that toppled the Democrats and swept Donald Trump's Republicans to power in America this week.

BEIJING: China unveiled a 10 trillion yuan ($1.40 trillion) debt package on Friday to ease local government financing strains and stabilise flagging economic growth, as it faces fresh pressure from the re-election of Donald Trump as U.

China has approved a six trillion yuan ($837 billion) plan to bolster its ailing economy by allowing local governments to swap out their hidden debt, unveiling additional stimulus measures to counter a potentially volatile growth path marked by the impending return of Donald Trump to the White House.

Chinese authorities unveiled details of a fiscal stimulus package Friday, in a continued bid to stabilize the world’s second-largest economy. The task has become more urgent now given how the trade war could escalate if President-elect Donald Trump follows through on his proposals to hit China with higher tariffs.

Beijing is hoping its plan will help bolster its ailing economy as it braces itself for increased trade tensions with the US under a Trump presidency. View on euronews