China Takes Steps to Bolster Slowing Economy
• China's central bank cut the amount of reserves banks must hold to inject $141B into economy and support growth • Additional measures planned to support property developers and lending in that struggling sector • Unemployment remains high, especially among youth, though recent positive signs on jobless rates • Moves aim to stabilize markets after stock selloffs and lift confidence in economic outlook • Further structural reforms needed to fully restore private sector confidence, analysts say