China’s central bank on Wednesday unveiled sweeping stimulus measures, according to PBS. Beijing's plans include cutting interest rates and reserve requirements to boost lending and increasing funding for factory upgrades, innovation, elder care, and service industries. The move comes as Beijing braces for high-level trade talks later this week in Geneva with Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. Financial markets initially rose on news of China’s stimulus and upcoming U.S. trade talks, but gains faded as the broader trade standoff continued to weigh on investor sentiment.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02China's Central Bank on Wednesday unveiled sweeping stimulus measures, according to PBS.
00:06Beijing's plans include cutting interest rates and reserve requirements
00:09to boost lending and increasing funding for factory upgrades,
00:13innovation, elder care, and service industries.
00:16The move comes as Beijing braces for high-level trade talks later this week
00:19in Geneva with Treasury Secretary Scott Bessett and U.S. Trade Representative Jameson Greer.
00:24Financial markets initially rose on news of China's stimulus and upcoming U.S. trade talks,
00:28but gains faded as the broader trade standoff continued to weigh on investor sentiment.
00:32For all things money, visit Benzinga.com slash GSTV.