1. LINE

      Text:AAAPrint
      Economy

      Forceful easing to keep Chinese economy buoyant

      1
      2015-06-29 09:01Xinhua Editor: Gu Liping

      The decision to simultaneously cut China's interest rates and reserve requirements for banks is a "forceful easing move" that could stabilize the market and shore up growth.

      The last time the central bank made such a concerted easing effort was back in late 2008 at the height of the global financial crisis.

      The People's Bank of China (PBOC) announced Saturday that one-year lending and deposit rates would be cut by 25 basis points (bps) to 4.85 percent and 2 percent respectively.

      The reserve requirement ratio (RRR), the amount of cash banks are required to hold, has been cut by 50 bps for commercial banks serving rural areas, agriculture and small businesses. The RRR for finance companies, or non-bank financial institutions, is lowered by 300 bps from Sunday, to "support the real economy and promote restructuring" according to the PBOC.

      ECONOMIC RECOVERY NEEDS CONSOLIDATION

      It is the third RRR cut in five months, and the fourth round of interest rate cuts in seven months.

      "The combined action is a forceful move, sending a clear signal to the market that authorities are actively responding to the financial situation," said Zeng Gang of the Chinese Academy of Social Sciences.

      China faces a tough task to stabilize growth and needs to continue to use the monetary policy flexibly to lower borrowing costs and boost the economy through restructuring, the PBOC said in a press release.

      The double cut could consolidate the recent economic recovery, which is still fraught with uncertainties, said Lian Ping, chief economist at the Bank of Communications, citing a slight rebound in real-estate investment and brisk housing sales in May.

      "Economic drivers are still relatively weak and more liquidity through policy easing is necessary. Market sentiment may improve, which is important for the economy, in the second half of the year," said Wang Jun, a researcher at China Center for International Economic Exchanges.

      China will release its Q2 GDP figure on July 15.

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 免费一级毛片在线播放视频| av成人免费电影| 1000部拍拍拍18勿入免费视频软件| 亚洲男同帅GAY片在线观看| 一区二区视频在线免费观看| 亚洲国产精品成人AV无码久久综合影院| 亚洲中文字幕无码亚洲成A人片| 亚洲欧洲免费无码| 亚洲人成色在线观看| 国产高清免费的视频| 极品色天使在线婷婷天堂亚洲 | 两性刺激生活片免费视频| 亚洲另类春色校园小说| 成人影片麻豆国产影片免费观看 | 18禁免费无码无遮挡不卡网站| 久久亚洲AV无码精品色午夜| 在线视频精品免费| 亚洲情A成黄在线观看动漫软件 | 久久国产精品免费观看| 亚洲成aⅴ人片在线观| 扒开双腿猛进入爽爽免费视频| 亚洲成a∧人片在线观看无码| 亚洲av区一区二区三| 一个人免费视频在线观看www| 亚洲美女视频网址| 成人毛片18女人毛片免费| 视频一区在线免费观看| 亚洲精品色午夜无码专区日韩| 999久久久免费精品播放| 亚洲色偷偷偷综合网| 中文字幕无码精品亚洲资源网| 无码精品国产一区二区三区免费| 亚洲色图视频在线观看| 日韩精品免费电影| a级毛片免费在线观看| 亚洲免费二区三区| 亚洲综合最新无码专区| 亚欧人成精品免费观看| 特色特黄a毛片高清免费观看| 91亚洲自偷手机在线观看| 日韩一区二区三区免费体验|