In light of a dramatic economic slowdown and falling consumer confidence, China's Ministry of Finance has announced plans to increase borrowing to aid regions lacking funds and to fortify state-owned banks. Finance Minister Lan Fo’an stated that they would pump money into major banks to support their lending capacities, though the exact amount of funding remains unspecified as plans are still in progress. The announcement follows other stimulus efforts last month which initially excited stock markets before concerns arose over their potential inadequacy. Lan urged local governments to raise funds by selling assets but acknowledged reluctance amid falling real estate prices. He also emphasized continued probes into local government expenditures to address public concerns over possible financial mismanagement contributing to current economic struggles.