China Takes Steps to Boost Economy After Stock Market Plunge
• China vows to pump more money into the economy and open its financial industry further to restore confidence after stock market plunge • Top financial regulator says China's economic fundamentals are still stable and promising in long run • Central bank governor announces reserve requirement ratio cut to inject $141B into economy • Regulator promises more measures to attract foreign investment into China's financial industry • State-owned investment funds and banks taking measures to support stock market amid brutal sell-off