China to support slowing economy: premier

Chinese Premier Li Keqiang says the world’s second-biggest economy can use reserve requirements and interest rates to support slowing economic growth.  Chinese Premier Li Keqiang has promised efforts to prevent a sharper deceleration as the world’s second-biggest economy expands at its slowest pace in almost three decades, saying it can use reserve requirements and interest rates to support economic growth. Li’s comments suggest Beijing will roll out more stimulus measures to ease the strain on businesses and consumers. China has already flagged billions of dollars in planned tax cuts and infrastructure spending, as economic momentum is expected to cool further due to softer domestic demand and a trade war with the United States. The central bank has cut banks’ reserve requirement ratios (RRR) five times in the past year, with a two-stage RRR cut in January releasing a total of 1.5 trillion yuan ($A315.82 billion) into the financial system.

ASIA will benefit from this move a China leads the way to help and assist the growth;



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