In what amounts to a massive adrenaline shot for the world’s second biggest economy, China’s central bank unveiled a series of economic stimulus measures on Tuesday. China’s economy has been dogged by a property market crisis,

The effort to encourage consumption and jolt growth is more of a shotgun approach than the bazooka the market has been waiting for.

The world’s second-largest economy has struggled to rebound from the pandemic, leading financial authorities to cut interest rates and support the property market.