Chinese stock is so undervalued.
Chinese ADRs Extend Gains After Beijing Injects Fresh Fuel into the Chinese Economy
China cut the amount of cash banks must keep in reserve Friday and lowered a key policy rate, as Beijing rolls out a strong stimulus package unveiled this week in a push to shore up the slowing economy and investor confidence.The People’s Bank of China’s 0.5 percentage point reduction to the reserve requirement ratio was announced earlier this week by central bank chief Pan Gongsheng, who didn’t provide a timeframe.The cut is aimed at creating a “good monetary and financial environment” for the
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