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China Hopes Sweeping Fiscal Measures Will Boost Ailing Economy
TaiwanPlus News
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5/7/2025
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.
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00:00
China's economy is about to receive a ton of fiscal support from the government to try
00:05
to counteract the impacts of the ongoing tariff spat with Washington.
00:09
Measures laid out by Beijing's top financial officials include lowering interest and mortgage
00:14
rates, reducing bank reserve requirements to free up more cash for lending, and help
00:19
for some of China's biggest listed companies affected by tariffs.
00:23
Additionally, China's central bank will set up low-cost re-lending facilities for people
00:27
buying tech-related bonds and for investments in elderly care and services.
00:33
Global markets and supply chains, particularly in the U.S. and China, have been reeling since
00:37
the Trump administration's tariffs brought most bilateral trade between two of the world's
00:42
biggest trading partners to a near standstill.
00:44
The measures come just days ahead of a planned meeting between top U.S. and Chinese officials
01:05
in Switzerland for their first high-level trade talks since the tariff war began, a sign
01:10
that both Washington and Beijing are looking to ease tensions and restart trade.
01:16
Asian markets responded positively to the stimulus measures and the news that the U.S. and China
01:21
will meet, inspiring hope that this tit-for-tat trade war between the world's two largest economies
01:28
could soon come to an end.
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