China has unveiled a massive stimulus package that will inject around one trillion yuan or more than US$140 billion of “long-term liquidity” into the financial market.
The slew of measures includes cuts to the reserve requirement ratio and mortgage rate for existing housing, as well as tools to support the stock market . This is as China continues to face weak domestic demand and a flagging housing market, all while trying to hit this year’s GDP growth target of around five per cent. CNA's Tan Si Hui with this report.
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