As China grapples with an economic slowdown and a debt crisis in the property sector, authorities have rolled out a series of measures to stimulate the economy and revive the property market. These measures include relaxing home-purchase restrictions and reducing the amount of funds institutions need to hold in foreign exchange reserves.
Chinese banks have also lowered lending rates. The country is seeking to prevent a further downturn in the struggling property sector, which contributes to roughly a quarter of its economy. The stress in the property market has raised concerns about China’s broader economic growth.