Policy easing on the cards

Slower pace: People at the central business district of Beijing. Growth in the world’s second-largest economy has slowed since early 2021. — AFP

BEIJING: China’s explicit call to cut the amount of cash banks set aside as reserves and boost lending has advanced expectations for imminent policy easing, but economists say any credit loosening may not be enough to beat back the prospect of a deep economic downtrend.

Growth in the world’s second-largest economy has slowed since early 2021 as traditional engines of the economy such as real estate and consumption faltered.