China launches late stimulus push to meet 2024 growth target [Globe and Mail, The (Toronto, Canada)]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: Globe and Mail, The
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch stimulus assault to pull economic growth back toward this year's roughly 5 per cent target. More fiscal measures are expected to be announced before China's week-long holidays starting on Oct. 1, after a meeting of the Communist Party's top leaders showed an increased sense of urgency about mounting economic headwinds. Reuters reported on Friday, citing sources, that megacities Shanghai and Shenzhen are planning to lift key home purchase restrictions in coming weeks, joining a long list of smaller cities that have done so to ease a years-long property crisis. On the heels of the Politburo huddle, China plans to issue special sovereign bonds worth about 2 trillion yuan ($284.43 billion) this year as part of fresh fiscal stimulus, two sources with knowledge of the matter have told Reuters. Capital Economics chief Asia Economist Mark Williams est
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