China Implements Major Economic Stimulus

China unveiled significant stimulus measures to support the struggling economy.

Policy rate cut by 30 basis points.

Reserve Requirement Ratios for banks reduced by 50 basis points.

Mortgage rates on existing loans cut by 50 basis points.

Recapitalization of major banks with 1 trillion CNY (approx. $142 billion).

Potential upside risk to growth estimates, projected at 4.8% for this year and next.