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Economy

China slashes banks' reserve requirements as trade war imperils growth

Chinese national flag flies at the headquarters of the People's Bank of China, the country's central bank, in Beijing.   © Reuters

BEIJING (Reuters) -- China's central bank on Sunday announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth amid concerns over the economic drag from an escalating trade dispute with the United States.

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