POLITICSTÜRKİYEWAR ON GAZABIZTECHINFOGRAPHICSFEATURESOPINIONWAR ON IRAN
China cuts one-year lending rate to 3.45%
04:29
Asia Pacific
China cuts one-year lending rate to 3.45%
China's one-year loan prime rate was cut by 10 basis points on Monday - from 3.55% to 3.45% - just shy of the 15 basis points expected. That's as data have been pointing to faltering growth momentum and problems in the country's property sector. Country Garden, once the country's biggest property developer, is now on the verge of default, while Evergrand filed last week for bankruptcy protection in a Manhattan court. Country Garden is also to be removed from Hong Kong's Hang Seng Index on September 4th, after its shares have plunged 70% this year only, as the company failed to meet bond coupon payments and issued a profit warning.
More Videos
Inside Konya, Türkiye’s Historic Heart | Where to Next?
Mining in Serbia’s Bor contributes economy but poses risks to health and nature
Bosnia and Herzegovina confronts Croatia over nuclear waste facility
Sanctioning settlers: EU pressure or political cover? | Bigger Than Five
Konya beyond expectations | Where To Next
Sanctioning settlers: Is it enough? | Bigger Than Five
The rise of foreign influence in poor communities
Why has Christian Schmidt decided to quit now?
Political violence in the US | Inside America
Why do Albanians living in Serbia have to fight for recognition?