PBoC vows to provide more support for faltering economy


China’s central bank vowed to boost lending support for businesses and keep liquidity “reasonably ample”, signalling its resolve to keep policy accommodative.

The world second-largest economy grew 0.4% in the second quarter, narrowly escaping contraction. Manufacturing activity unexpectedly contracted in July. Chinese leaders reportedly told government officials that the goal of achieving 5.5% GDP growth this year is a guidance, rather than a hard target, according to Bloomberg.

The People’s

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