market index: An analyst said the statement shows that China is ramping up efforts to deal with the complicated external environment by using multiple policy tools to help reinvigorate the domestic economy, according to Global Times China. During a televised conference on Thursday, Chinese Vice Premier Liu He stressed that the financial regulators should scale up counter-cyclical measures and ensure that the impact of monetary policy flows more quickly to enterprises. The benchmark Shanghai Composite Index rebounded 0.96 percent to close at 3,000 points and the smaller Chi Next market index rose 1.18 percent to 1,700 on Thursday. According to a State Council meeting held on Wednesday, China will implement overall and targeted cuts in RRRs for banks in a prompt manner. Other policies will be rolled out in line with increased liquidity, Lian told the Global Times on Thursday. The upcoming RRR cuts, which are expected to be implemented in the middle of this month, will enhance banks' ability to lend and thus offer more support for major projects, said Lian Ping, chief economist of the Bank of Communications.
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