Doldrums continue to plague China's post-pandemic economy. Now the country's leaders are firing up a new round of plans to jump-start growth. It just might not be enough.

China on Friday opened up over a hundred billion dollars in cash for its ailing economy, capping a week in which its leadership embark on one of their biggest drives in years to kickstart growth.

Australian Treasurer Jim Chalmers hailed China’s new stimulus effort as a “really welcome development” for both his nation and the global economy after meetings with counterparts in Beijing during a two-day visit.

After months of business leaders and economists urging action, the People’s Bank of China (PBoC)—the central bank of the world’s second biggest economy—finally acquiesced, unleashing a triptych stimulus package aimed at spurring consumer spending to counter persistent deflation.

China's fresh stimulus measures went into effect on Friday, in line with central bank governor Pan Gongsheng's comments earlier this week, as Beijing moves quickly to boost fiscal support and economic growth.