China Rolls Out Measures to Prop Up Slowing Economy
• China is taking measures to support the economy and stabilize markets, including cutting bank reserve requirements, easing rules for developers, and setting up a stock market rescue fund.
• Support includes expanding access to loans and funding for real estate developers and projects to address the property sector slump.
• Other moves aim to unlock long-term liquidity for banks and facilitate financial ties between mainland China and Hong Kong.
• Signs point to state-backed buying in markets to prop up stocks, via record turnover in exchange-traded funds.
• Additional stimulus under discussion includes new special sovereign bond issuance to fund investments in strategic areas like food, energy, and supply chains.