China is redoubling its first-aid for the economy, targeting banks, workers and poor families as the ruling Communist Party prepares to mark the 75th anniversary of the founding of the People's Republic.
It feels great this morning! Comfortable mornings stay in the forecast 👏Get ready to travel this fall with these Insider DealsChina is redoubling its first-aid for its economy, targeting banks, workers and poor families as the ruling Communist Party prepares to mark the 75th anniversary of the founding of the People’s Republic.
President Xi Jinping and other top leaders held a quarterly meeting on the economy on Thursday, state media said, and acknowledged “some new situation and problems” had emerged. They promised to focus on support for new college graduates, migrant workers, the unemployed, elderly and disabled.for the world's second-largest economy as it struggles to regain momentum after the COVID-19 pandemic. For a second time this week, financial markets rejoiced.
Those measures included lower bank reserve requirements, reduced interest rates and smaller minimum down payments for some mortgages.
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