The People’s Bank of China said it will undertake more measures to boost economic growth this year, and will also shore up lending as the economy recovers from three years of COVID-related disruptions, state media reports showed.
Optimism over a Chinese economic recovery was also aided by data showing that new home prices rose slightly in January from the prior month. But on a year-on-year basis, ChineseA recovery in China bodes well for broader Asian markets, given the country’s role as a key trading hub for the region. Optimism over China also helped regional markets look past better-than-expected U.S.
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