China adds economic stimulus policy

According to China Daily, on September 24, the People's Bank of China (PBC - Central Bank) announced a series of measures to boost the economy which is struggling with persistent debt problems in the real estate sector, continuous pressure to reduce inflation and high unemployment among young people.

The PBC said it would cut the reserve requirement ratio (RRR) for banks by another 0.5%. Interest rates on home loans will also be cut by an average of 0.5%. Some other types of savings and lending interest rates will also be adjusted in the coming time.

This will ease the burden on households, with 150 million people in China benefiting from the policy.

After the Central Bank announced the above measures, stock prices in Hong Kong and Shanghai markets increased sharply at the opening of the trading session on the same day.

SOUTH

Source: https://www.sggp.org.vn/trung-quoc-them-chinh-sach-kich-thich-kinh-te-post760554.html