China's central bank has implemented significant stimulus measures by cutting reserve requirements and key interest rates to bolster economic growth amid challenges.
The People's Bank of China announced a reduction in the reserve requirements ratio and key lending rates to increase liquidity and support the ailing economy.
PBoC plans to assist the property market by allowing banks to lower mortgage rates and reducing down-payment requirements, aimed at boosting sales.
Economic indicators show a worrying trend, with Q2 growth at 4.7% and manufacturing activity hitting a six-month low, intensifying the need for intervention.
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