China Mulls Trillion-yuan Fiscal Stimulus: Report

Beijing is considering injecting more than 1 trillion yuan ($16 billion) into the Chinese economy over the next three years, state news agency Xinhua said on Friday, citing a report from the China International Capital Corporation. According to the CICC report, the stimulus package will be between 1.2 trillion and 1.5 trillion yuan and is likely to drive a total potential investment of 5 trillion to 7 trillion yuan in the next three years. That's as much as 3.4% of the 2015 gross domestic product each year. The investment projects will be funded by commercial lenders, private investors and policy banks, the report said. Earlier this week, China's finance ministry said the country will roll out a "more forceful" fiscal policy to stimulate growth.