According to China Daily, on September 24, the People's Bank of China (PBC - the central bank) announced a series of measures aimed at boosting the economy, which is grappling with persistent debt problems in the real estate sector, ongoing inflationary pressures, and high youth unemployment.
The People's Bank of China (PBC) announced it will reduce the reserve requirement ratio (RRR) for banks by an additional 0.5%. Interest rates on home loans will also be lowered by an average of 0.5%. Several other savings and lending interest rates will also be adjusted in the near future.
This will alleviate the burden on households. As a result, 150 million people in China will benefit from this policy.
Following the central bank's announcement of these measures, stock prices on the Hong Kong and Shanghai markets surged at the opening of trading that same day.
SOUTHERN
Source: https://www.sggp.org.vn/trung-quoc-them-chinh-sach-kich-thich-kinh-te-post760554.html
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