China's manufacturing activity fell to a one-year low in April, a private survey showed on Thursday.
The flash HSBC Purchasing Managers' Index (PMI) came in at 49.2, compared with a Reuters forecast for a 49.6 print, and following the final March reading of 49.6. A figure below 50 signals contraction.
Over the weekend, the People's Republic of China slashed the reserve requirement ratio (RRR) of major banks. The 100 basis point-cut to 18.5 percent is the biggest since 2008, during the height of the global financial crisis.
The move was the latest in a series of aggressive measures by policymakers to stem further slowdown in the world's second largest economy.
China grew 7 percent in the first quarter on an annual basis, growth figures revealed last week, the slowest pace in six years.
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