BEIJING—China is stepping up monetary-easing measures in the face of a worse-than-expected economic slowdown, as authorities scramble to ease the heavy debt burdens of companies and governments.
The People’s Bank of China said Sunday it would shave a quarter of a percentage point off benchmark lending and deposit rates, effective Monday—its third rate cut in six months. The move underscores growing fears among senior Chinese…
Lingling Wei | The Wall Street Journal