China pushes stocks today. What news from Beijing?

Markets in cautious recovery today with China supporting shares.
Asian stocks managed to rally from 11-month lows as investors welcomed the approval of a trillion-yuan sovereign issue as a tangible sign that the dragon is moving to spur the sluggish recovery.
MSCI's broadest index of Asia-Pacific shares outside Japan, which hit its lowest since last November on Tuesday, rose 0.6% and the Hang Seng advanced more than 1%.
The Japanese Nikkei closed at +0.60%.
Caution is utmost, however, considering that the real estate problems are not over.
Chinese firm Country Garden Holdings Co.
has been found to default on a dollar bond for the first time ever, according to a Bloomberg update, underscoring its fall into trouble amid a broader real estate debt crisis.
Country Garden's failure to pay interest on the note within the grace period that ended last week "constitutes an event of default," according to a notice to holders from trustee Citicorp International Ltd.
seen by Bloomberg News.
In the background remain the gloomy scenarios linked to the two ongoing wars, the bond market, the Eurozone in recession, the approaching meetings of the ECB and the Fed.
China is the protagonist of the markets today: what's happening? China moves to support the economy and the markets are celebrating.
In detail, China's main parliament has approved a 1 trillion yuan bond issue and according to state media the funds would be aimed at building disaster zones and improving infrastructure.
Sentiment also strengthened as state investment firm Central Huijin announced it would buy exchange-traded funds.
“Given that funds will continue to be used next year, this means that at least in the first half of next year, pro-growth policies will continue to take effect,” wrote Wang Qing, chief macroeconomic analyst at Golden Credit Rating International with reference to the sovereign debt issuance plan.
“We estimate that next year's macroeconomy will grow at a medium to high rate of 5%.” There was also optimism from Steven Leung, of the broker UOB Kay Hian in Hong Kong: "Public spending will help the economy further stabilize and strengthen growth in the fourth quarter." According to UOB, Central Huijin's promise of ETF purchases triggered rallies of more than 20% in 2013 and 2015, and Leung said the signal gave a strong boost to sentiment.
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U.S.
Treasuries held off on a rebound after the 10-year bond yield topped 5% on Monday, with the benchmark yield holding steady at 4.82%.
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European stock futures remained stable, with the euro hit by Tuesday's weaker-than-expected purchasing managers' polls on the continent.