The newspaper notes that worries that the government is not doing enough to boost the economy and address the protracted real estate crisis caused Chinese stocks to drop 6.3% in January, setting a record for a six-month decrease.
A trillion yuan ($140 billion) in reserve funds will be available for corporations to assist important projects as a result of the People's Bank of China's decision to reduce the reserve rate for commercial banks by 50 basis points starting on February 5.
China's manufacturing activity index (PMI) dropped for the fourth consecutive month to 49.2 points, disappointing analysts.
A Chinese real estate developer named Evergrande was previously ordered to be liquidated by a Hong Kong court due to debts of $328 billion. On Monday, Evergrande's stock fell 20% during trading in Hong Kong before operations were halted. When the suspension occurred, the company's capitalization was approximately $275 million, despite its previous valuation of tens of billions of dollars.
source: bloomberg.com
A trillion yuan ($140 billion) in reserve funds will be available for corporations to assist important projects as a result of the People's Bank of China's decision to reduce the reserve rate for commercial banks by 50 basis points starting on February 5.
China's manufacturing activity index (PMI) dropped for the fourth consecutive month to 49.2 points, disappointing analysts.
A Chinese real estate developer named Evergrande was previously ordered to be liquidated by a Hong Kong court due to debts of $328 billion. On Monday, Evergrande's stock fell 20% during trading in Hong Kong before operations were halted. When the suspension occurred, the company's capitalization was approximately $275 million, despite its previous valuation of tens of billions of dollars.
source: bloomberg.com