China is taking action to boost its slowing economy with different types of economic support. By lowering interest rates, making it easier to borrow money, and helping local governments buy unsold real estate, China hopes to increase growth.
Skip Montreux and Dez Morgan talk about how the Chinese government is using economic stimulus to improve its economy. The People’s Bank of China (PBOC) recently took steps to encourage more borrowing and spending, including lowering interest rates and loosening rules for bank lending. Another important step allows local governments to sell bonds to help fund the purchase of unsold real estate, which indirectly supports property developers.
Their conversation is a great learning resource if you want to build your English listening comprehension skills and expand your business vocabulary. Key points of their discussion include:
- Governments can boost economic growth by cutting taxes, spending on public projects, and lowering interest rates.
- In the 1930s, the U.S. government’s New Deal used public spending to help lift the country out of the Great Depression.
- China’s central bank recently lowered interest rates and made it easier for banks to lend money, hoping to encourage more property purchases and investments.
- Local governments in China are now able to sell bonds to buy unsold real estate from developers, with possible support from the central bank.
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