The measures were significant because Beijing has been holding back on a "bazooka" stimulus even though China's economy has been struggling to stage a convincing recovery post-pandemic.
To be sure, this is not the first attempt China has made at boosting its economy in the past few years.
However, Beijing's display of resolve also triggered market speculation that it's alarmed and panicked over the state of its economy, which is facing multiple challenges.
Related storiesNotably, even on the heels of China's big stimulus announcement, most analysts also think Beijing still needs to do more to boost China's economy, particularly in boosting gloomy domestic demand.
"Onshore stocks are a policy- and momentum-driven market, and policy signals don't get much clearer than this," they wrote.
Persons:
—, Pan Gongsheng, Andrew Rocco, Rocco didn't, Pan, Freya Beamish, Rory Green, Anthony Sassine, Sassine, Rocco, macroeconomy, China's CSI300
Organizations:
Service, People's Bank of China, Business, Lombard, Investors, Zacks Investment Research, Global Data.TS, Yahoo Finance, Data.TS
Locations:
China, Beijing, Swiss, London