China's Central Bank Cuts Bank Reserve Rates, Pledges Other Moves to Help the Economy
China's Central Bank Cuts Bank Reserve Rates, Pledges Other Moves to Help the Economy
Pan also said down payment requirements for buyers of second homes would be reduced to 15% from 25% and that mortgage rates would be cut.BEIJING (AP) — The Chinese central bank announced Tuesday a slew of measures aimed at reviving the sluggish economy by tackling a downturn in the property sector.
北京（美联社）— 中国央行周二宣布了一系列措施，旨在通过应对房地产板块的低迷来重振乏力的经济。
People's Bank of China Gov. Pan Gongsheng said the reserve requirement for banks would be cut by 0.5 percentage points and that the central bank would follow up with further cuts.
中国人民银行行长潘功胜表示，银行的存款准备金率将下调0.5个百分点，央行还将跟进进一步降准。
The central bank plans new policies to support stable development of the stock market, he told reporters.
央行计划出台新政策，支持股市稳定发展，他告诉记者。
Pan also said down payment requirements for buyers of second homes would be reduced to 15% from 25% and that mortgage rates would be cut.
潘也表示，二套房买家的首付要求将从25%降至15%，抵押贷款利率将下调。
The latest moves to support the economy mainly center on addressing a crisis in the housing market after authorities cracked down on excessive borrowing by developers, leading many to default on their debts.
最新支持经济的举措主要集中在解决房地产市场危机，当局打击开发商过度借贷，导致许多人拖欠债务。
