In an effort to revive its struggling economy, the People’s Bank of China has announced new measures to stimulate growth. Governor Pan Gongsheng revealed that the central bank will be lowering its benchmark interest rate and reducing the cash requirement for banks, allowing them to lend out more money. This move is aimed at achieving the government’s target of 5 percent economic growth this year.
China’s economy has been facing challenges in recent months, including a slowdown in manufacturing and a decrease in consumer spending. These measures are expected to provide a much-needed boost to the economy and help stimulate economic activity.
In addition to China’s economic news, a new report highlights the deforestation threats in Malaysia’s Sarawak state. The European Union has been called upon to take action in order to address this pressing issue.
The announcement of these measures by the People’s Bank of China comes as a welcome development for the country’s economy. With these new policies in place, China is poised to see a revitalization in its economic growth in the coming months.
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Video “China announces new measures to boost its struggling economy • FRANCE 24 English” was uploaded on 09/24/2024 to Youtube Channel FRANCE 24 English