PBoC to inject $70-bn liquidity
The People’s Bank of China (PBoC) cut the amount of cash that banks must hold as reserves for the second time this year, releasing about 500 billion yuan ($69.8 billion) in long-term liquidity. PBoC said it would cut the reserve requirement ratio for banks by 25 basis points, effective from December 5.
Xi resumes physical meets summits
A maskless President Xi Jinping met Cuban counterpart Miguel Diaz-Canel in Beijing, resuming his flurry of in-person summits even as a record Covid surge fanned lockdown fears in the Chinese capital. The meeting was Xi’s first public appearance since returning six days ago from meetings in Southeast Asia.
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