Interest rates on loans and deposits have nearly halved over 10 years.
$1 million today in the bank earns $26,000 less that it did a decade ago.
$21 trillion in household savings earning $558 billion less due to falling rates.
There’s never been less incentive to keep money in the bank as today.
Over the same period, the Reserve Requirement Ratio (RRR) has also been cut by about 50%, making trillions of dollars available to lend out to businesse...

I see it as a rising sense of urgency instead of a panic among China's policymakers.
Some of these measures, particularly the $71B standby facility for share purchases, don't have an immediate effect. It really depends if non-banking institutions will utilize the facility to buy in the market. And the only reason they'll do that is if they see the potential for generating returns.
That means growth has to return to...