China has rolled out new measures to revive its struggling economy. The central bank cut the reserve requirement ratio (RRR) by 50 basis points, releasing around 1 trillion yuan for lending đšđł
The People's Bank of China also lowered mortgage rates and provided a $71 billion liquidity boost to the stock market. These steps aim to stabilize the real estate sector and increase stock market investment.
Stocks rose following the news, but analysts caution that while these moves help, they may not be enough to fully restore consumer confidence. China's stock market is still trading below the levels caused by Covid-19 pandemic market crash đœ
There is speculation that China will now start pouring new money into the market en masse, which could help speculative assets like crypto rise in value đ
