China rolls out new measures to bolster its property sector and economy

China rolled out new measures to help its sluggish property sector amid rising pressure to hit the government's year-end growth goal. China's central bank, the People's Bank of China is lowing its interest rates for its pledged supplementary lending (PSL). The central bank will also increase the quota of relending for technological innovation by 200 billion yuan (about $30 billion) to a total of 1.4 trillion yuan ($208 billion). Chinese leaders are targeting a 4.5%-5% growth rate for the country's economy for the entirety of 2026.