China takes a series of measures to stimulate the economy
BEIJING, on May 7/ WAM/ China announced today, Wednesday, that it will reduce one of the basic interest rates by 0.1 percentage points, and will reduce the mandatory reserves imposed on banks by 0.5 percentage points, with the aim of stimulating the economy affected by the slowdown in consumption and commercial tensions.
The Chinese Central Bank, the governor of the Central Bank of China, said during a press conference today, that the interest rate on the reversal purchases for seven days “reverse ribo” will be reduced from 1.5% to 1.4%, explaining that these decisions in particular aim to support technological innovation and stimulate consumption.
He announced that China will also reduce borrowing prices for everyone who buys real estate for the first time, pointing out that the rate of interest on real estate loans for those wishing to purchase a house for the first time with loans exceeding five years will decrease from 2.85% to 2.6%.
– Khal –
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and
