China unveils package to boost economy as Evergrande teeters

Beijing to increase business lending and build more affordable housing, but reports say property giant has missed a key bond repayment

China's politburo has signalled measures to kickstart the faltering economy as the crisis gripping the country's debt-laden property sector continued to blight prospects for growth.

President Xi Jinping's senior leadership committee rubber-stamped a plan from the central bank on Monday for more targeted lending to businesses and outlined support for the housing market.