HONG KONG - China’s central bank said on Friday it will help reduce borrowing costs for companies, especially small firms, as part of a wider effort to support the world’s second-largest economy amid a trade war with the United States.
The People’s Bank of China , the central bank, said in its first-quarter implementation report that it would also maintain a prudent monetary policy and fend off any systemic financial risks. “We will further reduce financing costs for the real economy especially small firms, and increase the ability and willingness of financial institutions to serve the real economy,” it said.
The weighted average lending rate for companies and home buyers edged up 5 basis points in the first quarter to 5.69 percent, the central bank said.
Now should we call that retaliation to what USA did. Or they do that to safe guard their economic stand
'Growth is expected to slow further this year before supportive measures announced in March start to kick in. ' -article
Yeah, that's not why they are called 'large' or 'small' markets. The US and China are the largest banks in the world.
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