China to reduce the main prices by 10 points, and the requirements of the banking reserve by 50 points in an attempt to enhance the economy

The Central Bank and Chinese Financial Organizers announced comprehensive plans on Wednesday to reduce the main interest rates in an attempt to increase growth in the face of commercial concerns.

China’s Popular Governor Ban Gongcheng told a news conference that China would reduce the reversal rates for seven days by 10 basis points to 1.4 % from 1.5 %. The ruler said this would reduce the main loan price and the main policy rate, by about 10 basis points.

The Central Bank will also reduce the rate of reserve requirements, which determine the amount of precautions that must be kept in reserves, by 50 basis points, which launch additional liquidity amounting to 1,000 billion yuan (138.6 billion dollars) for the market.

He had to speak with officials from the National Financial Organizational Administration and the Chinese Securities Organization Committee.

The press conference took place after hours Beijing confirmation The Chinese Deputy Prime Minister, in which Living, will hold talks with US Treasury Secretary Scott Pesin in Switzerland later this week to discuss identification and trade issues, in the last sign that negotiations can begin between the two sides.

These will be the first confirmed commercial talks between the two countries since US President Donald Trump has escalated the customs tariffs on Chinese goods to 145 %, which prompted Beijing to take revenge through the 125 % additional fees on imports from the United States

Planned conversations can determine a turning point in the ongoing trade war that rocked the markets and paralyzed trade among the world’s largest economists.

This is urgent news. Please update for updates.