China tees up fresh spending to boost ailing economy

beijing — China said Saturday it would issue special bonds to help its sputtering economy, signaling a spending spree to bolster banks, shore up the property market and ease local government debt as part of one of its biggest support packages in years. The plan is part of a series of actions undertaken by Beijing to draw a line under a years-long property sector crisis and chronically low consumption that has plagued the world's second-biggest economy. Beijing's planned special bonds are aimed...