China cuts rates, rolls out other moves to help the slowing economy
- The Chinese central bank announced measures to revive the sluggish economy and address the downturn in the property sector on Tuesday.
- Central bank chief Pan Gongsheng stated that the reserve requirement ratio will be cut by 0.5 percentage points to boost growth.
- China's economic growth has slowed due to a real estate slump, leaving consumers reluctant to spend.
81 Articles
81 Articles
China's economy sees new hope as central bank announces cut in reserve requirements
People’s Bank of China Gov. Pan Gongsheng said the reserve requirement for banks would be cut by 0.5 percentage points and that the central bank would follow up with further cuts. That would free up more money for lending
China unveils broad stimulus measures to revive economy
China's central bank on Tuesday announced broad monetary stimulus and property market support measures to revive an economy grappling with strong deflationary pressures and in danger of missing this year's growth target.
China rolls out broad rate cuts and other stimulus to spur weak economy
China announced a broad range of measures on Tuesday to support the faltering economy, stabilise the housing sector and restore market confidence. Stocks and bonds jumped after the announcement. © New Straits Times Press (M) Bhd
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