China To Boost Slowing Economy

China recorded a steep economic slowdown in Q3 as its pandemic bounce fades—and now, Beijing is taking on longer-term issues including household debt and energy consumption.

China’s central bank said it would reduce the amount of money banks are required to set aside, as a reserve, as it moved to stimulate a slowing economy that has been weighed down by a slump in the property market.

The effort to inject liquidity into the financial system signals Beijing’s growing concerns about the growth outlook for the world’s second largest economy.

The latest move comes as the government has taken a flurry of measures to avoid a downward spiral in the housing market and stabilize heavily indebted developers such as China Evergrande Group.