China's cabinet on Friday approved measures to boost growth in the country's foreign trade, state media reported, after October exports grew at the fastest pace in over two years and the country unveiled fiscal stimulus to revive growth.

China on Friday announced a $1.4 trillion stimulus program to help local governments deal with debt, as Beijing grapples with a struggling economy and the possibility of a new trade war with the United States after Donald Trump’s election victory this week.

China has approved a six trillion yuan ($837 billion) plan to bolster its ailing economy by allowing local governments to swap out their hidden debt, unveiling additional stimulus measures to counter a potentially volatile growth path marked by the impending return of Donald Trump to the White House.

Chinese authorities unveiled details of a fiscal stimulus package Friday, in a continued bid to stabilize the world’s second-largest economy. The task has become more urgent now given how the trade war could escalate if President-elect Donald Trump follows through on his proposals to hit China with higher tariffs.

Simply sign up to the Chinese economy myFT Digest -- delivered directly to your inbox. China has announced a Rmb10tn ($1.4tn) fiscal package to bail out local governments and help shore up its faltering economy,

Beijing is hoping its plan will help bolster its ailing economy as it braces itself for increased trade tensions with the US under a Trump presidency. View on euronews