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[hfe_template id='11223'] [ad_1] The Chinese central bank announced Tuesday a slew of measures aimed at reviving the sluggish economy, mainly by tackling a downturn in the property sector. People's Bank of China Gov. Pan Gongsheng said the reserve requirement for banks would be cut by 0.5 percentage points and that the central bank would follow up with further cuts. That would free up more money for lending. The news lifted share prices, especially for real estate developers. Hong Kong's Hang Seng index jumped 2%, while the Shanghai Composite index was up 0.8%. The central bank plans new policies to support stable development of the stock market, Pan told reporters in Beijing. He also said down payment requirements for buyers of second homes would be reduced to 15% from 25% and that mortgage rates would be cut by about 0.5% . That would help 50 million households and 150 million people, reducing household interest expenses by an average of about 150 billion yu...

[hfe_template id='11223'] [ad_1] China's central bank said on Friday it will ensure reasonably ample liquidity and credit expansion to consolidate the country's economic recovery, which still faces many challenges. The People's Bank of China (PBOC) will guide the growth of credit and keep liquidity ample, the bank said in its quarterly monetary policy implementation report. "We will maintain the stability of monetary policy, enhance the consistency of macroeconomic policy orientation, strengthen counter-cyclical and cross-cyclical adjustments, increase support for the real economy, and effectively consolidate and enhance the positive trend of economic recovery," it said. "The global economic recovery momentum is divided, and uncertainties such as monetary policy adjustments and geopolitical conflicts in developed economies still exist. The sustained recovery of the domestic economy still faces many challenges." The Communist Party's ...