Earlier news from the China Securities Journal ... I'm just doing a bit of catch-up:

Bank of China expects between two and three required-reserve-ratiocuts to improve liquidity

  • Says the government will continue to ease property policies - including criteria for first- and second-home buyers to encourage demand
  • Says that with more unsold property, the government will increase eligibility for housing funds and offer tax relief and subsidies to boost purchases,
  • It forecasts GDP at 7.2% in the second quarter

From the Bank of China's second-quarter economic outlook, reported in the China Securities Journal 9via MNi)