China's central bank unveils sweeping measures to boost economy

A view of residential buildings in east China's Jiangsu Province, May 16, 2024./ CFP

China's central bank has introduced a series of major monetary policy adjustments designed to boost economic growth and stabilize the property market. 

People's Bank of China (PBOC) Governor Pan Gongsheng unveiled a comprehensive package of measures on Tuesday, including interest rate cuts and increased