BEIJING, Sept 15 — China’s industrial output and retail sales grew at a solid pace in August and beat expectations, suggesting that the recent flurry of support measures may be...
BEIJING, Sept 15 — China’s industrial output and retail sales grew at a solid pace in August and beat expectations, suggesting that the recent flurry of support measures may be starting to slowly stabilise a stumbling economic recovery.
The upbeat data suggest that a flurry of recent measures including property support policies to shore up a faltering economic recovery are starting to bear fruit. To sustain the recovery momentum, China’s central bank said on Thursday it would cut the amount of cash that banks must hold as reserves for the second time this year to boost liquidity. Earlier in the day, the bank also rolled over maturing medium-term policy loans to inject more liquidity into the financial system, while keeping the interest rate unchanged.
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