China unveils measures to bolster economic recovery


Source: china.org.cn china.org.cn

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A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. [Photo/Xinhua] China announced a cut in the foreign exchange reserve requirement ratio for banks on Monday as part of the country's new round of measures to boost support for economic recovery, officials and industry experts said. The policies will significantly bolster market confidence and shore up domestic demand, helping China's economic growth rebound in the months ahead to about 5 percent in the third and fourth quarters, the experts said. The People's Bank of China, the nation's central bank, announced that it would reduce the...