In a move to stimulate lending and combat economic challenges, China announced a forthcoming reduction in the reserve requirement ratio (RRR) for banks. People’s Bank of China Governor Pan Gongsheng shared that the RRR will be lowered by 0.5 percentage points on February 5. This strategic decision aims to address various hurdles, including a prolonged property sector crisis, sluggish domestic consumption, and weakened foreign demand. As the world watches China’s bold economic measures, investors remain cautiously optimistic about the impact on the stock market.
BREAKING: China to cut amount banks hold in reserve, to boost lending: official
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(Bloomberg) — China’s boldest plan yet to stem the current stock market rout is facing a wall of skepticism as disillusioned investors say any rebound will prove fleeting without a fundamental fix for its ailing economy.
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