Beijing will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio, or RRR, by 50 basis points in the near term, People's Bank of China Gov. Pan Gongsheng said.

China's central bank introduced its largest stimulus since the pandemic to rejuvenate the economy, including funding and interest rate cuts. Analysts, however, caution that more fiscal measures are necessary to achieve growth targets.

China's central bank on Wednesday said it would slash another key interest rate, a day after it unveiled a raft of new measures aimed at boosting its

People's Bank of China Governor Pan Gongsheng announced the measures in a rare news conference China's central bank has unveiled a major package of measures aimed at reviving the country's flagging economy.

The world’s second-largest economy has struggled to rebound from the pandemic, leading financial authorities to cut interest rates and support the property market.

China’s central bank announced a blitz of measures to support the country’s weakening economy and energize its moribund stock market, an unusually broad package that signals growing unease in Beijing after a run of downbeat numbers on jobs,

China's central bank on Tuesday announced broad monetary stimulus and property market support measures to revive an economy grappling with strong deflationary pressures and in danger of missing this year's growth target.