China cuts interest rates amid zero-COVID economic woes | DW Business

China's central bank ealier today trimming lending rates for the second time this year, taking its key rate down ten points to 2.75 percent. That as latest economic data showed there was need for more stimulus to support the economy.
Retail sales and industrial production rose slower than expected in July, as did totals exports out of China. This has caused much concern in Beijing.
Add to this, the mortgage woes. China's once stellar property sector has sharply declined during the last few months, with both new investment and sales down sharply.

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#China #ZeroCovid #InterestRates

[adammaturin]

Keep that zero covid policy going Xi, the longer that goes on the less relevant China becomes to the global economy, & that's a win for everyone else 👏

[chrisyounghans-haug]

USFB raises to 2 5%, PBOC lowers to 2.75%. Which rate is tighter and which is looser?

[jeffgreenwaldJLG]

Is it “Zero COVID” policy or “Zero Mortgage Protests” policy?

[sarcasmo]

Hey, let them flounder under political dogma.

[mikevarga]

I just keep thinking of those people trying to escape Ikea before they were held hostage in it

[janulf]

Little known Chinese proverb: not being able to pay the army you have spent decades creating is a most excellent reason to go to war.

[AK-hskz]

There was a time when China was making brilliant progress. This includes at some point they were, no lie, improving on their human rights. Honestly, I lived in china and at some point even the Uighur friends of mine said they made improvements in relations. There was some improvements also in the environmental side of things. However the last few years..and I mean the last 3 years..just before covid they've been making some terrible decisions both on the economic side and human rights. I don't understand their logic. I hope they see the errors and try to make things better. I'm not a "never China" guy..so I hope for their people and the world as a whole..they start thinking rationally again

[wom_Bat]

Well ya win some ya loose some winnie the pooh, eh? 🐻 💩

[omidpourhossein]

Funny how government officials have that "We know what we're doing and you don't." attitude all over the world

[natbirchall]

Can we stop talking about the reelection of XI it's such a non subject not in a million years that it is not going to happen.

[lycan]

Chinese can spend less, earn enough and domestic needs suffice.
"ice cube in hot tea"

[resolverresolver]

I pray for unity, but why is Italy southern Italy and France the foundation of the problem between Russia and Ukraine and China and Taiwan and Afghanistan with the help of Americans, i pray for unity in jesus mighty name Amen hallelujah shalom

[th]

CCP were critical about the cutting interest rate and bailout now they are doing the same thing.

[lastChang]

Evergrand reflects the state of the Chinese 🇨🇳 economy: broke.

[America_bombsTSMC]

No life no rights.
Nothing is important than health.

[andoyskies]

China is caring for its people. I hope they will continue it for eternity.

[stevezodiacXL]

Seeing the Western media predict the end of China is like reading the British press predicting the end of the EU!

[edwardgreer]

The real question is why is the government so persistent on a zero COVID policy. This isn’t a policy of caution, this is a policy of fear. Fearful enough to risk their economy over. This could mean that the initial outbreak of COVID in the beginning caused a lot more deaths than they originally reported because of the governments lack of response to act from the first outbreak and they aren’t going to take that chance again.

[ramonantonio]

soy eso tilín 2 tu veloz tu mente y corazon Carol g loca mia

[poweredbynato]

Interesting... so the people don't have work... which means no income...

So take on a loan from the CcP

Locked bank assets....

(All banks are owned by the CcP)

So basically you will never be able to leave the CcP nation.

Save the poor Chinese people.

END CcP.