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China Latest: Politburo Pledges Spending, Rate Cuts
Posted
September 26, 2024
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September 26, 2024
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1:01Now PlayingPresident Xi Jinping used a monthly huddle of China’s top leaders to discuss the economy and call for the government to provide sufficient fiscal spending, a rare change in agenda that underscores growing anxiety in Beijing over the nation’s slowing growth. The 24-man Politburo also called on the forceful implementation of cuts to interest rates and a reserve requirement ratio for banks, the official Xinhua News Agency reported Thursday. Tom Mackenzie reports.
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