Reported 14 days ago
China's central bank has introduced a comprehensive monetary stimulus package aimed at revitalizing its economic growth amid waning investor confidence. Key measures include reducing short-term interest rates and lowering bank reserve requirements to the lowest level since 2018. This unprecedented move, disclosed during a briefing that showcased significant urgency from Beijing, aims to address the slowing growth rate, projected at around 5% this year, and bolster the beleaguered equity market while targeting issues within the property sector.
Source: YAHOO