Economy to get greater financial policy support

Central bank cuts key interest rates to boost investment, consumption

Editor's note: The third plenary session of the 20th Central Committee of the Communist Party of China has unveiled a road map for further comprehensively deepening reform in various sectors to advance Chinese modernization in the new era. China Daily is running a series of stories focused on specific reform measures and the implementation of the measures in different sectors and localities.

China cut key interest rate benchmarks on Monday, demonstrating policymakers' strong commitment to strengthening macroeconomic policy support and putting into effect the measures outlined last week at a key meeting of the central leadership of the Communist Party of China, economists and analysts said.

With the top-level meeting having mapped out reforms to bolster financial support for the real economy, they said China will likely take more action soon to enhance the effectiveness of interest rate adjustments and strengthen the capital market's ability to serve innovative enterprises as well as investors.