{"id":1631,"date":"2024-09-25T00:26:27","date_gmt":"2024-09-24T16:26:27","guid":{"rendered":"https:\/\/www.kafeizha.com\/?p=1631"},"modified":"2024-09-25T00:26:27","modified_gmt":"2024-09-24T16:26:27","slug":"%e4%b8%ad%e5%9b%bd%e5%87%ba%e5%8f%b0%e5%a4%9a%e9%a1%b9%e7%bb%8f%e6%b5%8e%e6%8f%90%e6%8c%af%e6%96%b0%e6%94%bf%e5%ba%94%e5%af%b9%e4%bd%8e%e8%bf%b7%e6%80%81%e5%8a%bf","status":"publish","type":"post","link":"https:\/\/news.tomjun.com\/?p=1631","title":{"rendered":"\u4e2d\u56fd\u51fa\u53f0\u591a\u9879\u7ecf\u6d4e\u63d0\u632f\u65b0\u653f\u5e94\u5bf9\u4f4e\u8ff7\u6001\u52bf"},"content":{"rendered":"

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\u65b0\u95fb\u6765\u6e90\uff1a<\/b>www.bloomberg.com
\u539f\u6587\u5730\u5740\uff1a<\/b>China Unveils Series of New Stimulus Measures to Revive Weak Economy<\/a>
\u65b0\u95fb\u65e5\u671f\uff1a<\/b>2024-09-24
\u539f\u6587\u6458\u8981\uff1a<\/b><\/font><\/p>\n

China\u2019s central bank unveiled a broad package of monetary stimulus measures to revive the world\u2019s second-largest economy, underscoring mounting alarm within \u2019s government over slowing growth and depressed investor confidence.People\u2019s Bank of China governor  cut a key short-term interest rate and announced plans to reduce the amount of money banks must hold in reserve to the lowest level since at least , appearing at a rare briefing alongside two of the country\u2019s other top financial regulators in Beijing. That marked the first time reductions to both measures were revealed on the same day since at least 2015.Read more: Those moves were followed by a slew of other announcements that fueled gains in China\u2019s beleaguered equity market. The central bank chief also  a package to shore up the nation\u2019s troubled property sector, including lowering borrowing costs on as much as $5.3 trillion in mortgages and easing rules for second-home purchases.Subscribe to the Bloomberg Daybreak podcast on , or you listen.\u200b\u200b\u200b\u200b\u200b\u200bFor the nation\u2019s stocks, Pan said the central bank will  at least 800 billion yuan ($113 billion) of liquidity support, adding that officials were  setting up a market stabilization fund.While several of the measures had been anticipated, the highly publicized rollout showed authorities are taking seriously warnings that China risks missing its growth target of around 5% this year. The policy barrage likely puts that goal back within reach, but doubts remain whether it was enough to break China\u2019s longer-term  pressure and entrenched real estate crisis. Authorities have yet to unveil more forceful measures to boost demand among consumers, which some analysts view as a key missing ingredient for the economy.\u201cIt\u2019s hard to say what silver bullet can help resolve everything,\u201d said , Asian equity portfolio specialist at Eastspring Investments Hong Kong Ltd. \u201cWhile it\u2019s good to have monetary easing measures that are accommodative, more needs to be done in order to help solidify fourth quarter growth.\u201dAfter a slow start, markets embraced the policy package. China\u2019s benchmark CSI 300 Index of shares ended the session 4.3% higher, close to erasing losses for the year, though the gauge is still down more than 40% from its recent peak in 2021. Commodities markets gained and the yuan was little changed against the dollar. China\u2019s 10-year bond yields rose 3 basis points to 2.06%, erasing an earlier decline to a record low. Policymakers in Beijing have been trying to revive the economy without resorting to the bazooka stimulus China deployed in previous downturns, but piecemeal efforts have been ineffective. Growth recently slowed to its worst pace in five quarters \u2014 a  that\u2019s testing the leadership\u2019s tolerance for missing its high-profile annual target for the second time in three years.\u201cThe purpose of today\u2019s briefing is to inject confidence into the market, judging by the fact that the authorities revealed measures in one go,\u201d said , head of China economics at Macquarie Group Ltd. \u201cThe stimulus push will still need coordination from other policies \u2014 particularly follow-up policies from the fiscal side.\u201dThe Federal Reserve\u2019s bigger-than-expected half-percentage point slash has given central banks across Asia more room to move. But making money cheaper won\u2019t lift the economy if Chinese consumers don\u2019t want to spend because layoffs are looming amid sliding corporate  and property prices are still falling. New home prices  their biggest decline last month from the previous period since 2014. Pan\u2019s decisive display of ramped up monetary policy now sets the stage for the Finance Ministry to  its own bid to defend the growth target. A plunge in revenue from land sales has held back fiscal spending this year, crippling indebted local governments\u2019 ability to invest in growth-boosting projects.\u201cIt is too far from being a bazooka,\u201d ANZ chief greater China economist  said of the package. \u201cWe are not sure how much the mortgage rate cut will induce a property recovery.\u201dRead more: The central bank governor unveiled his big policy shift at his first high-profile press conference since March, appearing alongside securities regulator , and , head of the National Financial Regulatory Administration. The trio kicked off their first joint public briefing at 9 a.m. before China trading began, ensuring their roll out of steps to  investor sentiment and stem a selloff in equities had maximum impact on markets. Government briefings typically start later in the morning.Among their policies were new financial tools to expand liquidity for equities, which would help listed companies and major shareholders buy back shares and raise holdings.Read this next: The PBOC chief also effectively mapped out monetary policy for the rest of the year, exemplifying his more transparent approach. Pan used a similar briefing in January to  a RRR cut two weeks before it was effective, as authorities tried to halt a stock-market rout.The question now is whether this is all a prelude to more substantial measures to come, said , deputy China research director at Gavekal Dragonomics.\u201cIf policymakers go back into wait-and-see mode,\u201d he added, \u201cthe initial burst of market enthusiasm might fade.\u201d<\/pre>\n
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