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China accelerates budget spending to counter tariff woes

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China is accelerating its budget spending to mitigate the economic impact of the ongoing U.S.-China trade war, as reported by the state-run Xinhua News Agency. The Chinese government is advancing the issuance of local government special bonds and increasing the use of fiscal policy tools to support the economy. This move comes in response to the tariffs imposed by the U.S., which have affected Chinese exports and economic growth. The accelerated spending is aimed at boosting domestic demand, supporting infrastructure projects, and stabilizing the economy amidst the trade tensions.

Read the Full Fortune Article at:
[ https://fortune.com/article/china-accelerates-budget-spending-to-counter-tariff-woes/ ]