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China joins India and Indonesia in Asian 'pump priming'

Asian economies step on the gas amid slowing growth and trade disputes

China is pumping money into the economy to prop up growth.   © Reuters

TOKYO -- China trimmed a key bank lending rate on Friday, in the latest move by an Asian government to combat flagging growth and the economic drag of the U.S.-China trade war.

Beijing trimmed its new Loan Prime rate, the reference point against which banks now price loans, to 4.2% for one-year loans, versus 4.25% for August, and left the five-year lending rate at 4.85%. Chinese stocks edged ahead only slightly after the move.

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