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)
August 15, 2022
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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.