China Rate Cut Signals Shift in Policy Stance

June 8 (Bloomberg) -- Shen Jianguang, chief Asia economist for Mizuho Securities Asia Ltd., talks about China's economy and central bank monetary policy. China cut borrowing costs for the first time since 2008 and loosened controls on banks’ lending and deposit rates, stepping up efforts to combat a deepening slowdown as Europe’s debt crisis threatens global growth. Shen speaks in Hong Kong with Zeb Eckert on Bloomberg Television's "First Up." (Source: Bloomberg)