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

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

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