China has stepped up efforts to consolidate its economic recovery with a further 146-billion-dollar package to bolster growth. It's expected to be mainly used on infrastructure projects and to support local governments. CGTN's Zheng Chunying has more.

Another 43.8 billion U.S. dollars in bonds to invest in infrastructure projects – that's part of the 19-policy package outlined by the Chinese State Council on Wednesday, on top of the 43.8 billion U.S. dollars announced in June in an effort to further boost its economy.

Local governments will also be allocated 73 billion U.S. dollars in special bonds from previously unused quota.

JP Morgan's Chief China Economist Zhu Haibin believes the newly announced stimulus is crucial for China's economic growth.

Amid an energy crunch triggered by drought and heatwave, support was also directed toward power generation companies, which will be allowed to sell 30 billion U.S. dollars of bonds.

Zhu Haibin also says the stimulus will help improve the energy structure, adding the impact of the extreme weather on economy is temporary and limited.

ZHENG CHUNYING Beijing "The State Council also said the economy would not be flooded with excessive stimulus, and that China would not 'overdraw' on the room it has to take more policy action to protect longer-term growth. The country has also pledged to continue lowering financing costs and introduce measures to support the development of private businesses and platform companies. ZCY, CGTN, BJ."