Chinese leaders must meet today to stabilize the economy and stimulate its growth.
The Chinese Yuan has reached the lowest level since 2007 due to the trade war between the United States and China. Bloomberg reported this on Thursday, April 10.
Yuan also fell into a 15-month minimum related to his trading partners’ money basket and now there are 14 American cents.
Yuan reduction rates have increased, as China’s Bank of China has weakened the base rate for controlling the sixth day of the sixth day, indicating Beijing’s desire to gradually soften the money to support exporting. A fixed rate limits Yuan’s domestic trading with a range of 2% in both directions.
According to the publication, China leaders will now meet to discuss economic incentives. The purpose of the meeting is steps to support housing construction, consumer costs and innovative technologies, economic stabilization and stimulate its growth.
In China, they also created a “national team” to support the stock market during a trade war with the United States, writing financial times.
The Central Huijin investment company, which is the “daughter” of China Sovereign Foundation China Investment Corp., has pledged to increase action investments, calling its own member of the “national team”. Subsequently, the China Chengtong Holdings State Management company has promised to invest 100 billion yuan ($ 13.6 billion) in the stock market.
Another 80 billion investment was promised by the China Reform Holdings, and the National Council of the Social Union Fund, controlled by the PRC’s Ministry of Finance, announced his desire to increase market investments.
In addition, the State Administration for Financial Supervision and Control (NFRA) softens the rules regarding the purchase of insurers sharing, many of which are also states.
On the eve of more than one hundred large Chinese companies, including Sinopec, China Mobile and Mouti, they announced their desire to launch the return for the return of shares.
Remember, on April 9, United States President Donald Trump announced a pause of new duties. But in connection with China, restrictions only intensify. Thus, Trump raised duties in goods from China to 125%, but tariffs for all countries to 10% of 90 days were reduced.
US duties for importing Chinese products and raw materials will destroy Chinese GDP – by 2026 the gross product can fall by 3%. China’s economic growth is also slow by 2025 – from 4.7 to 4.2%, and can decrease by 3.5%.
China and the European Union have exchanged views on strengthening economic and trade cooperation in response to tariffs from the United States.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.