News Snapshot:
The week in review: PBoC announces blanket RRR cut, overseas Chinese tech IPOs face cybersecurity reviews In this round-up, China’s central bank will cut the reserve requirement ratio for banks by 50bp, Beijing further tightens its grip on overseas IPOs of technology companies, and the top antitrust watchdog blocks Tencent Holdings’ plan to merge two of the country’s largest videogame streamers. China’s Consumer Price Index rose 1.1% year-on-year in June, slower than the 1.3% increase recorded the previous month, Friday data from the National Bureau of Statistics showed. Producer Price Index growth came at 8.8% year-on-year, versus 9% in May....
