Latest rate cut suggests more support to come

China ramped up efforts to shore up economic recovery by reducing loan prime rates, the market-based lending benchmarks, for the first time since August. — China Daily

SHANGHAI: Additional stimulus measures are needed to consolidate China’s economic recovery following an interest rate cut on Tuesday, and such moves should be compatible with the country’s high-quality development pursuit and avoid any worsening of the economic structure, experts say.

“The economy needs an appropriate amount of stimulus at this moment as growth momentum weakens. The more important question is how the stimulus is delivered,” said Shao Yu, chief economist at Orient Securities.