China said to have asked big banks to increase loans to the manufacturing sector
|Reuters reports the latest headlines, citing that China has reportedly asked its big banks to increase loans to the manufacturing sector.
This effort to ramp up the country’s slowing economic growth comes after a couple of rate cuts by the People’s Bank of China (PBOC).
Meanwhile, USD/CNY remains on the front foot near 7.0315, as the Chinese yuan remains pressured by the US-China trade confusion.
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