China announces array of policies to help economy, improve child care

China's state planner and finance ministry on Thursday announced policies aimed at stimulating spending on housing and unlocking consumer savings that have been built up during the pandemic.

The announcements, reported by state media, also included measures to help the elderly, improve child care services and encourage couples to have more children.

Policymakers will seek to encourage and attract more private capital to the market, a report said, while also taking steps to curb the increase in hidden debts and prevent illegal and irregular debt raising.