China to give one-off cash handouts for poor people in rare use of aid

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China to give one-off cash handouts for poor people in rare use of aid - Business Standard

Quick Summary:

But a property sector slump and gloomy job market have weighed on spending, leading some economists to call for more direct fiscal intervention to lift sentiment.

While the amount is unknown, the deployment of one-time handouts within such a short period of time appears to be a departure for a government that has long eschewed what President Xi Jinping calls welfarism.

With the central bank surprising the market with its broad package of monetary stimulus measures, the spotlight now is on the Ministry of Finance.