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Old 01-02-2020, 01:59 PM   #3339
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Stock markets start the year on a high as China raises spending

Shares jumped after Beijing moved to shore up flagging Chinese growth

Quote:
Beijing moved to shore up flagging Chinese growth on Wednesday as its central bank pumped an extra 800 billion yuan (£86.7bn) into the world’s second biggest economy.

The People’s Bank of China’s decision to cut the level of reserves to be held by its commercial lenders - opening the door for extra credit growth - comes amid concerns the Chinese economy could weaken further still in 2020 after its worst year for nearly three decades.
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