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CHINA STOCKS: China Announces Further Stimulus For People In Poverty

CHINA STOCKS
EM BulletAPACChinaEquitiesEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

China says it will give one-off cash handouts to people in extreme poverty, this looks like it will be on top of the previously announced stimulus made on Tuesday. The government will issue living subsidies to disadvantaged groups, including the very poor and orphans, before the National Day holiday next week, the state broadcaster CCTV reported.

  • Shanghai is also issuing over 500m yuan ($71m) of discount vouchers from late September for the public to spend on dining, accommodation, movie tickets and sports.
  • Consumer discretionary & Staples have jumped higher on the back of this news.
  • Hong Kong listed equities are outperforming today, with the HSI +1.50%, while the CSI 300 is +0.50%.
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China says it will give one-off cash handouts to people in extreme poverty, this looks like it will be on top of the previously announced stimulus made on Tuesday. The government will issue living subsidies to disadvantaged groups, including the very poor and orphans, before the National Day holiday next week, the state broadcaster CCTV reported.

  • Shanghai is also issuing over 500m yuan ($71m) of discount vouchers from late September for the public to spend on dining, accommodation, movie tickets and sports.
  • Consumer discretionary & Staples have jumped higher on the back of this news.
  • Hong Kong listed equities are outperforming today, with the HSI +1.50%, while the CSI 300 is +0.50%.