China Hopes Sweeping Fiscal Measures Will Boost Ailing Economy

TaiwanPlus News

China has announced a string of fiscal stimulus measures to try to counter the economic damage of the country's tariff war with the U.S. It comes ahead of a trade meeting between the two countries later this week.

Transcript

00:00China's economy is about to receive a ton of fiscal support from the government to try

00:05to counteract the impacts of the ongoing tariff spat with Washington.

00:09Measures laid out by Beijing's top financial officials include lowering interest and mortgage

00:14rates, reducing bank reserve requirements to free up more cash for lending, and help

00:19for some of China's biggest listed companies affected by tariffs.

00:23Additionally, China's central bank will set up low-cost re-lending facilities for people

00:27buying tech-related bonds and for investments in elderly care and services.

00:33Global markets and supply chains, particularly in the U.S. and China, have been reeling since

00:37the Trump administration's tariffs brought most bilateral trade between two of the world's

00:42biggest trading partners to a near standstill.

00:44The measures come just days ahead of a planned meeting between top U.S. and Chinese officials

01:05in Switzerland for their first high-level trade talks since the tariff war began, a sign

01:10that both Washington and Beijing are looking to ease tensions and restart trade.

01:16Asian markets responded positively to the stimulus measures and the news that the U.S. and China

01:21will meet, inspiring hope that this tit-for-tat trade war between the world's two largest economies

01:28could soon come to an end.

Category

Transcript

Recommended