covid-19 lockdowns

China data to show sharp decline in March as COVID bites, but solid Q1 growth

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China is expected to report a sharp deterioration in economic activity in March as COVID-19 outbreaks and lockdowns hit consumers and factories, although first-quarter growth may have strengthened due to a strong start to beginning of the year. Data on Monday is expected to show gross domestic product (GDP) grew 4.4% in January-March from a … Read more

China lowers reserve requirements for banks as economy hit by lockdowns

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China said on Friday it would reduce the amount of cash banks must hold in reserves for the first time this year, freeing up about 530 billion yuan ($83.25 billion) in long-term liquidity to cushion a sharp slowdown in economic growth. The People’s Bank of China (PBOC) said on its website that it would lower … Read more