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China unveils fresh stimulus to boost ailing economy

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Pan Gongsheng, Governor of the People's Bank of China, speaks during a press conference at the China's State Council Information office in Beijing on September 24, 2024. [AFP]

China unveiled some of its boldest measures in years on Tuesday aimed at boosting its struggling economy as leaders grapple with a prolonged property sector debt crisis, continued deflationary pressure and high youth unemployment.

The world's second-largest economy has yet to achieve a highly anticipated post-pandemic recovery and the government has set a goal of five percent growth in 2024 -- an objective analysts say is optimistic given the headwinds it is facing.

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