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|LONDON Cheap Nike Air Max Online , March 3 (Xinhua) -- The People's Bank of China (PBoC) last Saturday announced to lower benchmark interest rate for the second time, as well as to raise the ceiling that determines the maximum rate that bank can offer to 1.3 times the benchmark.
The decision heated the debate on the Chinese central bank's policy stance here. And analysts believe that the decision is set to benefit the indebted companies in China.
Andre de Silva, Head of Asia-Pacific Rates Research at HSBC, commented: "The need to ease is obvious. According to the PBoC's data, the average financing cost for companies fell by only 14 basis points (bp) during the last quarter of 2014 and the drop was as limited as 9bp for small- and micro-sized corporates."
And "recent money market conditions still paint a tough financing picture. The 7-day interbank repo rate reached 4.99 percent as of Feb. 28th Cheap Nike Air Max Wholesale , way above the past year average of 3.60 percent," said Silva in an analysis paper.
He added that China's inflation has fallen from 2.5 percent year-on-year in January 2014 to just 0.8 percent in January 2015. Given the slowdown in domestic demand, there is scope for inflation to fall further.
"More easing, beyond the latest lending rate cut, has to be carried out to bring about a material fall in cost of financing within the system Cheap Nike Air Max Black ," he said.
HSBC Economics team expects one more lending rate cut and one more reserve requirement ratio reduction in the second quarter of this year.
Mark Williams, Chief Asia Economist at Capital Economics, said in an analysis piece that the direct impact of the PBOC rate cut will be to lower financing costs for bank borrowers, which are disproportionately larger and state-owned firms.
But he stressed that the decision is unlikely to result in much looser monetary conditions.
"The PBOC has said that the rate cut does not signal a shift in policy away from their neutral policy stance. That may sound contradictory but unlike most countries, benchmark rates and liquidity conditions in China are set independently Cheap Nike Air Max Shoes ," he said.
Williams noted that though the China's loan growth has been allowed to strengthen in recent months, this pick-up has been offset by a tightening of restrictions on shadow banking. Overall credit or the so-called "total social financing" has continued to slow.
"But the ongoing, moderate slowdown in GDP growth should not be a great concern since both wage growth and employment remain strong. We are forecasting one more cut to benchmark rates before the middle of the year but nonetheless expect credit to continue to slow," he said.
In regards to the decision on raising the ceiling, Williams said the PBOC is encouraging more market-based deposit pricing by banks Cheap Nike Air Max , a key step towards interest rate liberalization.
HAIKOU， Nov. 22 (Xinhua) -- A national dragon boat race final is set to kick off in Lingshui， Hainan Province， on December 3， organizers said here on Tuesday.
36 teams across China are expected to compete in the two-day race. The teams will be categorized in professional and youth divisions， with race distances of 100 meters， 200 meters and 500 meters.
The preliminary games had been held for six rounds.
Lingshui was selected as the venue for the final as it enjoys good climate and site conditions， according to the organizers.
A dragon boat is generally rigged with an ornately carved Chinese dragon head at the bow and a tail at the stern.
BEIJING, May 12 (Xinhua) -- Chinese President Xi Jinping's six-day trip, which brought him to Kazakhstan, Russia and Belarus, has achieved substantial results Cheap Air Max Womens , and has opened a new chapter for the Chinese diplomacy, Foreign Minister Wang Yi told reporters upon the conclusion of the tour.
Xi and his wife Peng Liyuan returned to Beijing on Tuesday night after visits to Kazakhstan, Russia and Belarus
His Kazakhstan trip is at the invitation of Kazakh President Nursultan Nazarbayev. At the invitation of Russian President Vladimir Putin, Xi visited Russia from Friday to Sunday and attended the ceremony commemorating the 70th anniversary of the victory of the Great Patriotic War in Moscow.
Xi also paid a state visit to Belarus from Sunday to Tuesday as guest of Belarusian President Alexander Lukashenko.
In the span of six days, the president held talks with his counterparts of the three nations Cheap Air Max Clearance , and attended more than 50 bilateral or multilateral events, met with people from all walks of life including political leaders and WWII veterans, promoting China's notion of promoting peace, development and win-win cooperation.
Xi's trip to the three Eurasian countries mainly has two themes: to attend commemorative activities for the victory of World War II (WWII) and to further promote political trust and pragmatic cooperation between China and the three countries.
COMMEMORATING VICTORY OF WWII
In the life-or-death fight 70 years ago between justice and evil, all the peace loving countries and their peoples formed a united front facing the brutality and atrocity of the fascists Cheap Air Max Online , and, after making enormous sacrifices and years of courageous fighting, eventually prevailed over the barbaric invaders, Wang said.
The commemorations in Russia and later in China are aimed at remembering history and paying tribute to martyrs while, alongside people of all nations Cheap Air Max Wholesale , safeguarding the hard-earned peace and ushering in a bright future for peace and development of all mankind, the foreign minister said.
The Chinese people supported the various commemorative events held by the European people to celebrate the victory of European theater in WWII in May, while China also plans to hold similar events in September to celebrate the hard-earned victory in the Asian theater, Wang said.
The Chinese president's attendance at the grand Victory Day parade at Moscow's Red Square on Saturday .