China unveils new moves to lift economy
Central bank to lend 50b yuan to banks at discounted rates as FDI growth slips to lowest since 2012
Beijing
CHINA announced fresh support measures on Friday for its slowing economy after data showed a worrying drop in bank lending and foreign investment growth falling to a two-year low.
The central bank said that it would lend 50 billion yuan (S$10.68 billion) to banks at discounted rates to allow them to re-lend the money to farmers and small businesses - areas of the economy that are usually short of cash.
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