CHINA has unleashed a raft of stimulus measures including cuts to its benchmark interest rate as Beijing battles a slowdown in the world's second-largest economy, reports London's Financial Times.
The People's Bank of china also announced government funding to boost the stock market and aid share buybacks, as well as more support for the stricken property sector.
With economists sceptical about whether China will hit the government's full-year growth target of five per cent, PBoC governor Pan Gongsheng said the measures aimed to 'support the stable growth of China's economy' and 'promote a moderate rebound in prices.'
The package of measures sent China's CSI 300 index of Shanghai- and Shenzhen-listed shares up 4.3 per cent on Tuesday, its best day since July 2020, although it remains down one per cent since the start of the year. Hong Kong's Hang Seng index rose found, led by mainland Chinese companies listed in the territory.
SeaNews Turkey
The People's Bank of china also announced government funding to boost the stock market and aid share buybacks, as well as more support for the stricken property sector.
With economists sceptical about whether China will hit the government's full-year growth target of five per cent, PBoC governor Pan Gongsheng said the measures aimed to 'support the stable growth of China's economy' and 'promote a moderate rebound in prices.'
The package of measures sent China's CSI 300 index of Shanghai- and Shenzhen-listed shares up 4.3 per cent on Tuesday, its best day since July 2020, although it remains down one per cent since the start of the year. Hong Kong's Hang Seng index rose found, led by mainland Chinese companies listed in the territory.
SeaNews Turkey
