China cuts some banks’ reserve requirements to boost lending

The People’s Bank of China said on Sunday it would cut the reserve requirement rate – the amount of cash that some banks must hold as reserves by 50 basis points (bps), effective July 5. The rate cut would release CNY 500 billion in liquidity for the 5 large state banks and 12 national joint-stock […]

China retaliates on US Tarrifs

*China announces retaliatory tariffs on $34 billion worth of US goods, including agriculture products* In a quick response to U.S. tariffs, Beijing announced on Friday its own duties on American products, including agriculture products and automobiles. On Friday, the United States Trade Representative said the U.S. will initially impose an additional 25 percent tariff on […]