Property sector a key focus in rapid fire of policy measures after almost two years of piecemeal attempts to breathe life back into economy
Pedestrians walk past a sign showing the numbers of the Hang Seng Index in Hong Kong. Photograph: Peter Parks/AFP via Getty Imageswoke up on Monday to the news that manufacturing had declined for the fifth month in a row and the services sector was stagnant, its stock market went wild.
It started last week with the People’s Bank of China cutting key interest rates and reducing the amount of cash banks need to hold in reserve. It also promised measures to make share buy-backs easier for companies and to pump billions into the stock market. Over the weekend came help for mortgage holders as rates for existing mortgages were cut to the same level as those for new ones. And on Sunday night, the cities of Shanghai, Shenzhen and Guangzhou said they would remove all remaining restrictions on home purchases.Budget 2025: Do you have a budget question you’d like answered?politburo brought forward to last week a discussion of the economy and signalled more support for the struggling property sector.
These are likely to include more support for indebted local governments, which provide most of the public services in China and cash support for families with more than one child. There could also be measures that will boost the income of China’s approximately 300 million migrant workers who have their homes in the countryside but live in cities.
‘She couldn’t have done better’: Leaving Cert student with maximum points misses out on college course due to lotteryDenis Leamy says Donncha O’Callaghan’s criticism of Munster ‘completely on the money’Soldier sentenced to five days’ detention and fined €5,100 at limited court martial
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China unleashes stimulus blitz to lift growthCentral bank cuts benchmark rate and unveils support for property and stock markets to boost demand
Read more »
Muted day as Iseq outperforms European peersUS markets close as traders contemplate September, which can be a treacherous one for markets
Read more »
Global markets buoyed by stimulus package in ChinaEuronext Dublin finished up 0.5%, which was largely in line with international peers, as most companies closed in the green
Read more »
European markets jump as China’s stimulus boosts luxury and mining stocksFTSE 100 lags its peers as energy giants track a decline in crude oil prices
Read more »
Tensions rise in South China Sea between China and PhilippinesManila withdraws vessel from contested shoal as US warns mutual defense treaty could be triggered
Read more »
Global markets rise after Fed rate cutTraders optimistic after the US Federal Reserve chairman Jay Powell signalled a series of cuts are likely to follow
Read more »