China rolls out more stimulus, agrees to trade talks with US

China announced a barrage of measures meant to counter the blow to its economy from US President Donald Trump’s trade war, as the two sides prepared for talks later this week.

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Beijing's central bank governor and other top financial officials outlined plans on Wednesday to cut interest rates and reduce bank reserve requirements to help free up more funding for lending. They also said the government would increase the amount of money available for factory upgrades and other innovation and for elder care and other service businesses.

Trump's tariffs, set as high as 1458 on imports from China, have begun to take a toll on its export-dependent economy at a time when it’s already under pressure from a prolonged downturn in the property sector. China has retaliated with tariff hikes of up to 1258 on US goods and stopped buying most American farm products.

BEIJING

Beijing’s central bank governor and other top financial officials outlined plans to cut interest rates and reduce bank reserve requirements