[Anchor]
China's stock market has soared around 10% for the day on the back of the latest stimulus package.
We are waging an all-out war by using the October National Day holiday as a showdown to achieve our economic growth target of around 5% this year.
This is Beijing correspondent Kang Jeong-gyu.
[Reporter]
China's Shanghai and Shenzhen stock markets surged 8.06 percent and 10.67 percent, respectively.
It is on a "vertical rise" of more than 20% from its low point on the 13th.
It is the steepest rise since 2008, when the global financial crisis hit.
Earlier on the 23rd, the People's Bank of China, the central bank of China, released a large-scale money release policy, returning to a bullish market.
Following a cut in the reserve ratio of commercial banks, mortgage rates are also expected to fall by 0.5%p by the end of October.
[Pang Gung-sung / President of the People's Bank of China (on the 23rd): The average annual household interest burden of 150 million people will be reduced by about 150 billion yuan (about 28 trillion won).]
Large cities such as Shanghai, Guangzhou, and Shenzhen have also lifted restrictions on home purchases one after another.
Each local government also distributed a large amount of travel and consumption coupons aimed at the National Day holiday.
China's Ministry of Transport expects 1.94 billion people to move during the holiday season.
The Manufacturing Purchasing Managers' Index (PMI), which shows economic trends, also rose 0.7 in September to 49.8.
Following President Xi Jinping in the economic recovery for the first time in a long time, Prime Minister Li Chang also pulled the reins closely.
It was ordered to increase the intensity of policy application to achieve this year's "around 5%" growth goal.
As we desperately need achievements worthy of the 75th anniversary of the founding of the country and the breaking year, we have made a winning move this National Day holiday.
I'm Kang Jeong-gyu from Beijing.
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China's stock market has soared around 10% for the day on the back of the latest stimulus package.
We are waging an all-out war by using the October National Day holiday as a showdown to achieve our economic growth target of around 5% this year.
This is Beijing correspondent Kang Jeong-gyu.
[Reporter]
China's Shanghai and Shenzhen stock markets surged 8.06 percent and 10.67 percent, respectively.
It is on a "vertical rise" of more than 20% from its low point on the 13th.
It is the steepest rise since 2008, when the global financial crisis hit.
Earlier on the 23rd, the People's Bank of China, the central bank of China, released a large-scale money release policy, returning to a bullish market.
Following a cut in the reserve ratio of commercial banks, mortgage rates are also expected to fall by 0.5%p by the end of October.
[Pang Gung-sung / President of the People's Bank of China (on the 23rd): The average annual household interest burden of 150 million people will be reduced by about 150 billion yuan (about 28 trillion won).]
Large cities such as Shanghai, Guangzhou, and Shenzhen have also lifted restrictions on home purchases one after another.
Each local government also distributed a large amount of travel and consumption coupons aimed at the National Day holiday.
China's Ministry of Transport expects 1.94 billion people to move during the holiday season.
The Manufacturing Purchasing Managers' Index (PMI), which shows economic trends, also rose 0.7 in September to 49.8.
Following President Xi Jinping in the economic recovery for the first time in a long time, Prime Minister Li Chang also pulled the reins closely.
It was ordered to increase the intensity of policy application to achieve this year's "around 5%" growth goal.
As we desperately need achievements worthy of the 75th anniversary of the founding of the country and the breaking year, we have made a winning move this National Day holiday.
I'm Kang Jeong-gyu from Beijing.
Edit Shooting;Highlight
design;im new star
※ 'Your report becomes news'
[Kakao Talk] YTN Search and Add Channel
[Phone] 02-398-8585
[Mail] social@ytn.co.kr
[Copyright holder (c) YTN Unauthorized reproduction, redistribution and use of AI data prohibited]
