(Reuters) -U.S.-listed shares of Chinese firms and China-focused funds jumped on Friday and are set for another day of strong gains, aided by the latest in a line of aggressive stimulus measures to propel economic growth in the world's second-largest economy.

After months of business leaders and economists urging action, the People’s Bank of China (PBoC)—the central bank of the world’s second biggest economy—finally acquiesced, unleashing a triptych stimulus package aimed at spurring consumer spending to counter persistent deflation.

China's fresh stimulus measures went into effect on Friday, in line with central bank governor Pan Gongsheng's comments earlier this week, as Beijing moves quickly to boost fiscal support and economic growth.

Doldrums continue to plague China's post-pandemic economy. Now the country's leaders are firing up a new round of plans to jump-start growth. It just might not be enough. Amid concerns of a "prolonged structural slowdown,