China may raise US$850bil in new debt over three years to spur growth, says report

People pose for photo with a flower basket at Tiananmen Square in Beijing. - Photo: Xinhua

BEIJING: China may raise an additional 6 trillion yuan ($850 billion) from special treasury bonds over three years to help bolster a sagging economy through expanded fiscal stimulus, Caixin Global reported, citing multiple sources with knowledge of the matter.

The report comes after Finance Minister Lan Foan on Saturday said Beijing will "significantly increase" debt to stimulate the economy, although the absence of details on the size and timing of the fiscal measures disappointed some investors.