China's central bank implemented measures to boost borrowing, aiming to revive economic growth and address challenges in housing and declining prices, signaling aggressive economic policy.
The People's Bank of China cut the benchmark seven-day interest rate to 1.5 percent and eased reserve requirements, enabling banks to lend an additional $140 billion.
Despite the central bank's actions, businesses show reluctance in borrowing due to concerns over insufficient sales to repay loans, highlighting challenges in the economic recovery.
Central bank governor Pan Gongsheng indicated readiness to further increase lending capacity for banks if necessary, demonstrating a proactive approach to stimulate the economy.
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