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China takes active measures to accelerate economic growth
The Chinese government announced new plans aimed at stimulating the country's economy - the second largest economy in the world. Among them - plans for the construction of railways and highways and airports along the Yangtze River, which connects the less developed internal provinces of China with Shanghai.
In addition, the People’s Bank of China announced that it would encourage banks to more actively lend to exporters in order to increase supplies.
Such decisions were made amid concerns about a slowdown in the country's GDP growth. During the first quarter of this year, the country's economy grew by 7,4%, while growth over the last quarter of 2013 amounted to 7,7%.
Earlier, the Central Bank of China said that the government will accelerate the liberalization of interest rates and begin preparations for the introduction of a deposit insurance system in 2014.