The People's Bank of China said it was keeping the rate on 150 billion yuan ($23.5 bn) worth of one-year medium-term lending facility loans to some financial institutions at 2.85%

Salary raises are a non-starter for Masataka Yoshimura, the head of a family of tailors. Increasing wages would be “truly fatal,” he said.

The growth rate of the world's second-largest economy is projected to moderate to 5.1% in 2022, after achieving 8% this year, as predicted, due to a low base