China redoubles first-aid for its economy with support for banks and workers
NEW YORK - China is redoubling its first-aid for its economy, targeting banks, workers and poor families as the ruling Communist Party prepares to mark the 75th anniversary of the founding of the People’s Republic.
Banks’ interest margins and profits have shrunk, so “it is necessary to coordinate various channels such as internal and external channels to replenish capital,” Li told reporters in Beijing. Hong Kong’s Hang Seng jumped 4.2% and the Shanghai Composite index surged 3.6%. The smaller market, in Shenzhen, was up 4.2%. Markets elsewhere in Asia and in Europe also logged strong gains.
The statement issued after the meeting Thursday of the ruling party’s powerful Politburo called for “additional policies” for new problems that have cropped up, Julian Evans-Pritchard of Capital Economics said in a commentary.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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