China unveils new financial policy package to stabilize market

China’s Central Bank has recently announced cuts in the reserve requirement ratio and policy rates and lowered interest rates on personal housing provident fund loans. The measures are part of China’s new financial incentives to stabilize the economy. The People’s Bank of China also unveiled supportive policies for scientific innovation and expanding consumption. What are the potential impacts of all these policies? What is China’s economic strategy amid external uncertainties? How will the country move forward? To explore all these questions, host Zhao Yang spoke with Yan Liang, a professor of economics at Willamette University; Li Lun, an assistant professor of economics at Peking University; and Professor Qu Qiang, a fellow of the Belt and Road Research Center at Minzu University of China.