China's State Council announces new measures to boost growth

China’s State Council announced fresh measures to step up the country’s economic growth late-Monday, in an effort to counter the trade war threats, Reuters reports.

Key Measures:

A tax cut targeting research spending.

Bonds for infrastructure investment.

"More proactive" fiscal policy, better coordinated with financial policy.

Recall that the Chinese central bank (PBOC) also injected Yuan 502 billion of Medium-Term Lending Facility (MLF) credit of one-year maturity to major banks, making it the largest such operation since the MLF introduced in 2014.