China unveils rate reform to steer funding costs lower for firms – CNBC

China unveils rate reform to steer funding costs lower for firms – CNBC

China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States. The People’s Bank of China (PBOC) said it will improve the mechanism used to establish the loan prime rate …

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