Economy
China considers broad stimulus with property support, rate cuts -Bloomberg News
FILE PHOTO: Pedestrians wearing face masks ride an escalator near an overpass with an electronic board showing the Shanghai and Shenzhen stock indexes, following an outbreak of the novel coronavirus in the country, at Lujiazui financial district, in Shang
(Reuters) — China is considering at least a dozen stimulus measures including interest-rate reductions to support areas such as real estate and domestic demand, Bloomberg News reported on Tuesday citing people familiar with the matter.
China’s property sector, once a pillar of economic growth, slumped sharply last year with developers defaulting on debt or bonds and suspending construction of presold housing projects.
