China has approved a six trillion yuan ($837 billion) plan to bolster its ailing economy by allowing local governments to swap out their hidden debt, unveiling additional stimulus measures to counter a potentially volatile growth path marked by the impending return of Donald Trump to the White House.

Simply sign up to the Chinese economy myFT Digest -- delivered directly to your inbox. China has announced a Rmb10tn ($1.4tn) fiscal package to bail out local governments and help shore up its faltering economy,

The support package came after smaller measures were announced to jump-start growth. Economists said it was not big enough to address China’s sluggish economy.

China kicked off a fresh round of fiscal support on Friday for its sputtering economy with a package that eases debt repayment strains for local governments, with Finance Minister Lan Foan signalling further stimulus in the pipeline.

China summoned the Philippines' ambassador on Friday to express its objection to two new laws in the Southeast Asian nation asserting maritime rights and sovereignty over disputed areas of the South China Sea,

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

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,