China Doubles Down on Moves to Avert a Financial Crisis

China’s leadership has initiated several policies to stabilize its economy and prevent a financial crisis. These include a series of fiscal and monetary measures, such as freeing up billions for property lending and other spending, cutting bank reserve requirements, and introducing new rules to encourage bank loans to property developers. This move comes as a response to the economic slowdown and challenges faced by China’s real estate sector, a key driver of its economy. The Chinese government is acting assertively to prevent a deflationary spiral and stabilize financial markets, crucial for global economic growth.