China doubles down on moves to mend its economy and fend off a financial crisis
FILE - People wearing face masks walk by construction cranes near the office buildings at the central business district in Beijing, on March 15, 2023. China's leaders have mounted a campaign to build confidence in the slowing economy by freeing up billions of dollars in cash for property lending and other spending. (AP Photo/Andy Wong, File)
BANGKOK (AP) — China's leaders launched a barrage of new policies this week to prop up languishing financial markets and rekindle growth in the world's second-largest economy.
The moves to support lending and spending with billions of dollars of fresh cash gathered pace when the central bank cut bank reserve requirements and issued new rules to encourage banks to lend more to property companies.
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