BEIJING (Reuters)

China's finance ministry will detail plans on fiscal stimulus to boost the economy at a highly anticipated news conference on Saturday, as confirmed by the government's main information office on Wednesday. This indicates a move towards more robust policies aimed at reviving growth.

The announcement follows a media briefing by the country’s top economic planner on Tuesday, which left investors disappointed, as officials did not reveal significant new steps to stabilize the economy.

Finance Minister Lan Fo'an is set to attend the press conference, which the State Council Information Office describes as aiming to "intensify countercyclical adjustment of fiscal policy to promote high-quality economic development."

Chinese stocks rebounded slightly from earlier losses in light of the news conference, scheduled for 10 a.m. (0200 GMT).

Markets are eager for details on the fiscal policies the government plans to implement and their anticipated scale, following the central bank's announcement of aggressive monetary stimulus measures in late September—with interest rate cuts and efforts to revive the property market.

Premier Li Qiang conducted two separate meetings on Tuesday urging government departments to enhance policy coordination, affirming that specific plans will be unveiled.

The world’s second-largest economy has struggled since Q2 of this year, negatively impacting household spending and business confidence amid a significant property downturn and jeopardizing the government’s growth target of around 5%.

To combat strong deflationary pressures and flagging growth, China intends to issue special bonds worth about 2 trillion yuan ($283.43 billion) to bolster household consumption and assist local governments in addressing their debt issues, as reported by Reuters last month.

Additionally, Bloomberg News reported that China is contemplating injecting up to 1 trillion yuan of capital into its largest state banks to enhance their ability to support the faltering economy, primarily through the issuance of new special sovereign bonds.

Recent speculation in financial markets suggests the upcoming stimulus package may be larger than previously reported, although no official size estimates for the new fiscal support have been communicated to date.

> ($1 = 7.0565 Chinese yuan renminbi)