The central bank of the Chinese mainland has boosted market confidence by cutting its key short-term policy rate and reducing the reserve requirements for banks on Friday. This move follows the Politburo meeting on Thursday, signaling a strong monetary stimulus package aimed at stabilizing the economy.
Stock markets responded positively, rallying as investors welcomed the central bank's proactive measures. Ben Harburg, Managing Partner at MSA Capital, highlighted that overseas institutional investors are now more incentivized to invest in China. He noted that top policymakers have outlined a comprehensive list of goals to shore up the Chinese economy, making it an attractive destination for international investment.
Reference(s):
cgtn.com
