[CICC Liu Gang: The Fed's rate cut will provide China with more policy easing windows and conditions] According to Jinshi Data on September 20, the US Federal Reserve recently announced that it would lower the target range of the federal funds rate by 50 basis points to a level between 4.75% and 5.00%. This is the first interest rate cut by the Fed in 4 years. Liu Gang, chief overseas strategy analyst and managing director of CICC, said that considering the constraints of the interest rate differential and exchange rate between China and the United States, the Fed's rate cut, especially the 50bp rate cut, will provide China with more policy easing windows and conditions. However, he also mentioned that space does not mean inevitability. Under the constraints of reality, the final rate cut is more critical. If the rate is larger, it will have a more positive effect on the market. (Reprinted from: Jinshi Data)