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China frees up $70bn for banks to underpin slowing economy - Nikkei Asia

Nikkei Asia LogoNikkei Asia4d ago

China frees up $70bn for banks to underpin slowing economy - Nikkei Asia - Nikkei Asia

Quick Summary:

Chinese cities have imposed lockdowns and other curbs to rein in a renewed rise in coronavirus cases, darkening the economic outlook and dampening hopes that China would significantly ease its harsh outlier stance on COVID anytime soon.

On Wednesday, the PBOC issued a notice outlining 16 steps to support the property sector, including loan repayment extensions, in a major push to ease a liquidity crunch that has plagued the sector since mid-2020.

The People's Bank of China said it would cut the reserve requirement ratio for banks by 25 basis points, effective from Dec.5.


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Article Details

Author / Journalist: Staff Writer

Category: InvestingFinanceAsia

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-25 @ 10:53:00 (4 days ago)

News Timezone: GMT +9:00

Ranking: #563 (out of 2138 stories this day)

News Source URL: news.google.com

Language: English

Article Length: 620 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Nikkei Asia

News ID: 1929229

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About Nikkei Asia

Nikkei Asia Logo

Main Topics: InvestingFinanceAsia

Official Website: asia.nikkei.com

Update Frequency: 34 posts per day

Year Established: 1876

Headquarters: Japan

News Last Updated: 8 hours ago

Coverage Areas: Japan

Ownership: Independent Company

Publication Timezone: GMT +9:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #19

Publisher Details

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The story "China frees up $70bn for banks to underpin slowing economy - Nikkei Asia" was covered 4 days ago by Nikkei Asia, a news publisher based in Japan.

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Nikkei Asia is a fully independent (privately-owned) news outlet established in 1876 that covers mostly investing, finance, and asia news.

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It's most recent story was published 8 hours ago.

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  • News ID: #1929229
  • URL: https://beamstart.com/news/china-frees-up-70bn-for-16693743303061

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