Xi Jinping Calls for Intensified Reform Efforts

BEIJING - According to a report from the official Xinhua news agency on Tuesday, Chinese President Xi Jinping has urged senior provincial government officials to intensify their efforts to achieve the country's reform goals. Xi emphasized the importance of all regions and departments in China in the active implementation of the established major initiatives, but did not elaborate on these initiatives.

In his remarks, Xi also called on provincial officials to achieve China's annual economic and social development targets within the next two months. This directive comes at a time when China has committed to a significant increase in debt issuance as part of an economic stimulus package designed to revitalize its sluggish economy. The total size of the stimulus package has not been disclosed.

According to sources, Beijing is considering approving over 10 trillion yuan (approximately $1.4 trillion) in additional debt issuance in the coming years to boost economic growth. This financial strategy is expected to gain more support if Donald Trump wins the upcoming U.S. elections. The exchange rate at the time of reporting was 1 U.S. dollar to 7.1363 Chinese yuan renminbi.