Like it or not, China remains in a very important place when it comes to the health of the overall global economy and the stock market. Analysts and fund managers, even those without direct China market exposure, are focused on numbers coming out of China. As in 2009, after the Great Financial Crisis, so in 2023 the hope is that China can come to the rescue.
Why is China's property market considered so important?
China’s efforts to kick-start a property sector revival are poised to have a substantial, positive impact on international stock markets and delight global investors. The People’s Bank of China, China's central bank, has eased borrowing rules and slashed the reserve requirement ratio for foreign exchange deposits from the current 6% to 4%. Some of the country’s largest banks have also cut interest rates on yuan deposits.
According to come market commentators, global stock markets are set to get a boost amid the rollout of steps being taken by the People's Bank of China to revive the country’s beleaguered property sector.
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