The 25 basis point cut to the five-year LPR is the biggest reduction the central bank has made since it revamped its LPR system in 2019.
Chinese government appreciated the weekend meeting between North Korean leader Kim Jong-un and US President Donald Trump at the inter- Korean border, calling it “Constructive”
Trump became the first sitting American President to step foot in North Korea when he crossed the Demilitarized Zone (DMZ) in the Joint Security Area with Kim on Sunday.
The two leaders then held a meeting together with South Korean President Moon Jae-in for about an hour at Freedom House, Efe news reported.
During a press briefing, Chinese Foreign Ministry spokesperson Geng Shuang said, “It was a constructive meeting that had positive outcomes and it is especially important for the DPRK (North Korea) and the US for re-starting working-level conversations in the near future”.
He further said that Chinese President Xi Jinping’s recent state visit to North Korea underscored the importance of resolving political issues affecting the Korean Peninsula.
The meeting between the leaders of the US and North and South Korea on the border “serves the common interest of all parties and the international community”, Geng added.
This was the first time the two leaders had met since their February summit in Hanoi, Vietnam, which ended abruptly without an agreement.
The unscheduled meeting came just nine days after Xi’s first state visit to Pyongyang, an event hailed by North Korean state media, which highlighted the strengthened ties between the two nations.