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China's central bank announced on Friday to cut the reserve requirement ratio of banks (ratio money lenders are required to keep aside as reserves) by 1 percentage point to inject cash into the economy to bolster growth.
China's GDP expanded 6.9 percent year-on-year to 59.3 trillion yuan (.93 trillion) in the first three quarters. It is now expected to surpass the annual growth target of around 6.5 percent this year.
China's Ministry of Commerce figures outlined that during the first four months of the year, foreign capital utilized in China was .6 billion, with that number constituting a tiny dip of 0.1 percent over the corresponding period.
China's broad money supply, or M2, grew by 10.7 percent year-on-year during the first 11 months of the year, up from 10.5 percent a month earlier, the PBOC said on Wednesday.
China will take further steps in 2020 to consolidate and expand its achievements in cutting taxes and fees, according to the State Taxation Administration.
