China’s central bank plans to cut the reserve requirement ratio for the third time this year as latest economic growth data shows below-target performance.
The head of the Ministry of Housing and Urban-Rural Development said the goal was to ’stop the [housing] market from falling and return it to stability.’
The recent change in China’s struggling pension system will leave older Chinese farmers with fewer years to enjoy their pensions and more years to contribute.
‘They engage in predatory pricing,’ the Department of State official said. ‘[They] lower the price until competition disappears. That is what is happening.’