Central bank takes steps to boost economy

By Associated Press

Sep 25, 2024 12:21 am

THE Chinese central bank announced on Tuesday a slew of measures aimed at reviving the sluggish economy, mainly by tackling a downturn in the property sector.

People's Bank of China Governor Pan Gongsheng said the reserve requirement for banks would be cut by 0.5 percentage point and that the central bank would follow up with further cuts. That would free up more money for lending.

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