BEIJING The slowdown in China's economy deepened in August, with growth in industrial production at its weakest 17-1/2 years amid spreading pain from a trade war with the United States and softening domestic demand.
* Fixed asset investment up 5.5% Jan-Aug y/y; Reuters poll
BEIJING, Sept 11 China's banks extended 1.21
trillion yuan ($170 billion) in new yuan loans in August as
policymakers ratcheted up support for the slowing economy, and
further policy easing is expected in coming weeks as the
Sino-U.S. trade dispute takes a bigger toll on the economy.
SHANGHAI/BEIJING As the Sino-U.S. trade war drags on, Beijing is throwing its door wide open to foreign investors as concerns grow over declining exports, capital flight and persistent yuan weakness.
BEIJING China's banks extended new yuan loans in August as policymakers ratcheted up support for the slowing economy, and further policy easing is expected in coming weeks as the Sino-U.S. trade dispute takes a bigger toll on the economy.
BEIJING China's central bank said on Friday it was cutting the amount of cash that banks must hold as reserves for the third time this year, releasing 900 billion yuan ($126.35 billion) in liquidity to shore up the flagging economy.
WASHINGTON/BEIJING China and the United States on Thursday agreed to hold high-level talks in early October in Washington, cheering investors hoping for a trade war thaw as new U.S. tariffs on Chinese consumer goods chip away at global growth. | Video
BEIJING China will implement both broad and targeted cuts in the reserve requirement ratio (RRR) for banks "in a timely manner," China's cabinet said in a meeting on Wednesday, an indication that a cut in the key ratio aimed at boosting lending could be imminent.
SHANGHAI/BEIJING China lowered its new lending reference rate slightly on Tuesday, as expected, as the central bank kicked off interest rate reforms designed to reduce corporate borrowing costs in the world's second-largest economy.