China makes surprise cut to key lending rate

BEIJING, July 25 (AFP): China's central bank on Thursday unexpectedly cut a medium-term interest rate by the most in more than four years, marking the latest move by authorities to boost economic growth.
The world's second-largest economy has encountered severe headwinds in recent years, as a heavily indebted property sector, sluggish consumption and high youth unemployment weigh on confidence.
Beijing has introduced a host of measures in recent months in a bid to get it humming again, but a full rebound has so far proven elusive.