China’s central bank to cut interest rates

Global Business

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China’s central bank cut its benchmark interest rate on Tuesday, freeing up banks to lend more.

Many market analysts see this as Beijing’s latest effort to stabilize a plunging stock market. Shares dropped on Tuesday for a fourth trading day in a row.

Shanghai composite index

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Meanwhile, Chinese Premier Li Keqiang announced the exchange rate for China’s currency will remain unchanged. He assured skeptical China watchers that his nation’s economy was still on track to hit its growth target for 2015.

Highlights of government and market actions

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CCTV America’s Roee Ruttenberg filed this report.
Follow Roee Ruttenberg on Twitter @RoeeRuttenberg

China\'s central bank to cut interest rates

China\'s central bank to cut interest rates

China's central bank cut its benchmark interest rate on Tuesday, freeing up banks to lend more.

CCTV America’s Jessica Stone on China’s economy
China’s central bank has cut interest rates and reduced the amount of reserves that banks are required to hold.
They are the latest in a series of moves by the government aimed at halting the market slide.
CCTV America’s Jessica Stone explains.
Follow Jessica Stone on Twitter @JessicaStoneTV

CCTV America\'s Jessica Stone on China\'s economy

CCTV America\'s Jessica Stone on China\'s economy

China's central bank has cut interest rates and reduced the amount of reserves that banks are required to hold. They are the latest in a series of moves by the government aimed at halting the market slide.

US markets end day down

Market reaction in the U.S. was mixed. Initially stocks rallied in part on China’s decision to cut rates but it didn’t last. Karina Huber filed this report.

Follow Karina Huber on Twitter @kkat31

US markets end day down

US markets end day down

Market reaction in the U.S. was mixed. Initially stocks rallied in part on China's decision to cut rates but it didn't last. Karina Huber filed this report.

Saruhan Hatipoglu on China’s Volatile Stock Market
For more on the global markets and what could lie ahead when markets open in China. CCTV’s Asieh Namdar spoke to Saruhan Hatipoglu. He’s the CEO of an international company that specializes in risk analysis.
Follow Asieh Namdar on Twitter@asiehnamdar
Follow Saruhan Hatipoglu on Twitter@sshatipoglu

Saruhan Hatipoglu on China\'s Volatile Stock Market

Saruhan Hatipoglu on China\'s Volatile Stock Market

For more on the global markets and what could lie ahead when markets open in China. CCTV's Asieh Namdar spoke to Saruhan Hatipoglu. He's the CEO of an international company that specializes in risk analysis.

Savanth Sebastian on China’s economy
Savanth Sebastian joined CCTV America to provide his insight on China’s current economic situation. He is an economist at CommSec.

Savanth Sebastian on China\'s economy

Savanth Sebastian on China\'s economy

Savanth Sebastian joined CCTV America to provide his insight on China's current economic situation. He is an economist at CommSec.

Perry Wong on the Chinese economy
For more on the Chinese economy, CCTV America spoke to Perry Wong. He is the managing director of research at the Milken Institute.

Perry Wong on the Chinese economy

Perry Wong on the Chinese economy

For more on the Chinese economy, CCTV America spoke to Perry Wong. He is the managing director of research at the Milken Institute.

Jack Perkowski on China’s stock market
Jack Perkowski joined CCTV America to provide his insight on China’s stock market and economy. He is the Managing Partner at JFP Holdings, Ltd.

Jack Perkowski on China\'s stock market

Jack Perkowski on China\'s stock market

Jack Perkowski joined CCTV America to provide his insight on China's stock market and economy. He is the Managing Partner at JFP Holdings, Ltd.