China pledged on Saturday to “significantly increase” debt to revive its sputtering economy, but left investors guessing on the overall size of the stimulus package.

Finance minister Lan Foan told a press conference Beijing will help local governments tackle their debt problems, offer subsidies to people with low incomes, support the property market and replenish state banks’ capital, among other measures.

These are all steps investors have been urging China to take as the world’s second-largest economy loses momentum and struggles to overcome deflationary pressures and lift consumer confidence amid a sharp property market downturn.

But Lan’s omission of a dollar figure for the package is likely to prolong investors’ nervous wait for a clearer policy road map until the next meeting of China’s rubber-stamp legislature, which approves extra debt issuance. A date for the meeting has yet to be announced but it is expected in coming weeks.

The press conference “was strong on determination but lacking in numerical details,” said Vasu Menon, MD for investment strategy at OCBC in Singapore.

Reuters