In a significant move to stabilize its economy, China's financial authorities have unveiled a suite of new stimulus measures, including notable rate cuts aimed at calming the property and stock markets.
The stock market responded positively, with the Shanghai Composite Index soaring by 3.61 percent, successfully reclaiming the critical 3,000-point threshold on Thursday. This upward momentum didn't stop there, as the index continued its sharp rise into Friday, signaling strong investor confidence.
Highlighting the government's commitment to economic stability, the Political Bureau of the Communist Party of China Central Committee emphasized the essential role of revitalizing the capital markets and maintaining a steady real estate sector. These measures are anticipated to boost overall economic activity and restore confidence among both domestic and international investors.
Experts believe that these stimulus actions could pave the way for sustained growth and resilience in China's markets, which are closely watched by global economies.
Reference(s):
cgtn.com
