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PBOC Should Cut RRR, Rates, To Boost Overall Demand-CF40 Report

CHINA PRESS
MNI (Singapore)

The People’s Bank of China should cut the reserve requirement ratio or interest rates in a timely manner to boost aggregate demand, while promoting steady growth of credit, according to a report by the China Finance 40 Forum. China should also supplement local government resources quickly to ensure the intensity of their fiscal spending, the report said. It should also provide broader relief plans for real estate developers facing liquidity crunches, such as delaying the repayment of domestic debts, and actively promoting debt restructuring with the help of local governments, according to the report.

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