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A delivery man transports home appliances from a delivery hub in Beijing, Monday, Aug. 15, 2022. China’s central bank trimmed a key interest rate Monday to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is believed to be trying to extend his hold on power. (AP Photo/Ng Han Guan)

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China cuts interest rate to shore up sagging economy
August 15, 2022 midnight

China cuts interest rate to shore up sagging economy

The decision suggested Beijing is temporarily setting aside worries over high debt to act to head off a slump before Xi is expected to try to award himself a third five-year term as Communist Party leader at a meeting this fall.