Helen Qiao

Economists have lowered their expectations for China's full-year GDP growth following the release of disappointing economic data over the weekend, NBC reports. Eswar Prasad, a professor of international trade and economics at Cornell University, highlighted that Beijing's outlook for the second half of the year is now "flashing red, or pretty close to red."

China's Central Bank announced on April 19 it would cut the level of funds that commercial banks must 
hold in reserve by one percentage point, the second such move this year to boost lending.

The move, effective April 20, comes days after the world's second largest economy reported its worst quarterly growth figure for six years.