China's stimulus plan disappoints markets | The Business | ABC News

Anticipation was high ahead of the announcement of China's latest stimulus package, but it amounted to not much at all. Markets had been full of optimism heading into the stimulus announcement, but the reaction was swift with China's stock market correcting some of its earlier gains. Subscribe: http://ab.co/1svxLVE Overall, the market was still higher after a rally spurred by a raft of stimulus unveiled last month. ABC's Chief Business Correspondent Ian Verrender explains what's behind the Chinese government's plans to prop up the economy. He says Beijing is trying to boost household spending and confidence as the country experiences a property market crisis years in the making. #ABCBusiness ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: https://ab.co/2kxYCZY Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 Like ABC News on Facebook: http://facebook.com/abcnews.au Follow ABC News on Instagram: http://instagram.com/abcnews_au Follow ABC News on X (Twitter): http://twitter.com/abcnews Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia