China approves $840B plan to refinance local government debt, boost slowing economy 

China's Finance Minister Lan Fo'an speaks at a press conference on a plan to boost the economy at the Great Hall of the People in Beijing, Nov. 8, 2024.

China on Friday approved a 6 trillion yuan ($839 billion) plan to help local governments refinance their mountains of debt, in the latest push to rev up growth in the world's second largest economy.