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.

More Pictures


Article Details

Author / Journalist: Staff Writer

Category: InvestingFinanceAsia



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:

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

View Article Analysis

About Nikkei Asia

Nikkei Asia Logo

Main Topics: InvestingFinanceAsia

Official Website:

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

Frequently Asked Questions

How long will it take to read this news story?

The story "China frees up $70bn for banks to underpin slowing economy - Nikkei Asia" has 620 words across 23 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Which news outlet covered this story?

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.

How trustworthy is 'Nikkei Asia' news outlet?

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

The outlet is headquartered in Japan and publishes an average of 34 news stories per day.

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

What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
  • News ID: #1929229
  • URL:

BEAMSTART brings you the latest news, jobs, and events from all around the world on startups, technology, and business. Stay updated with industry news, plug-in to exciting events, and discover incredible career opportunities with the world's most innovative companies.

© Copyright 2022 BEAMSTART. All Rights Reserved.