China will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth.

China's finance ministry on Saturday unveiled a fiscal stimulus package aimed at reviving the flagging economy and achieving the government's growth target, though it did not disclose the size of the new measures.

China has announced plans to ramp up government debt issuance in a bid to boost its economy. In a press briefing in Beijing on Saturday, China's minister of finance Lan Fo'an outlined a new package of fiscal policy measures designed to help local governments tackle debt problems,

The finance minister outlines measures to support the country’s property market and local governments, but offers no specific amount of potential stimulus package.

China said on Saturday it will "significantly increase" government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks' capital as it pushes to revive sputtering economic growth.

STORY: China pledged on Saturday (October 12) to "significantly increase" debt in a push to revive its sputtering economy.But it left investors guessing on the overall size of the stimulus package - a vital detail to gauge the longevity of its recent stock market rally.

China said Saturday it will issue special bonds to help its sputtering economy and that it had $325 billion in funds raised that it can deploy in the next three