Lan Fo’an, China’s finance minister, said that local governments would be allowed to issue extra bonds worth trillions of yuan to replace riskier “hidden” debts. These hidden liabilities typically belong to local-government financing vehicles ( LGFV s),

China gave indebted local governments a 10 trillion yuan ($1.4 trillion) lifeline but stopped short of unleashing new stimulus, preserving room to respond to a potential trade war when Donald Trump takes office next year.

Investors’ hopes for large-scale support for the economy were dashed after an anticipatory stock-market surge in recent weeks.

The footwear- and accessory-maker says it already has a plan in place to reduce its reliance on imports from China.

President-elect Donald Trump has promised steep across-the-board tariffs on imports to the United States, with a particularly significant tax on goods coming from China. One US company, just two days after Trump’s reelection,

Fashion house Steve Madden says it will reduce the goods it sources from China to limit exposure to potential tariffs under the incoming Trump administration. Steve Madden, which makes trendy footwear,