Summary: The article describes China's decision to cut benchmark lending rates for the first time in 7 months. The rate cuts are part of Beijing's efforts to boost its economy and meet its growth target of around 5%. The article also mentions that the Chinese offshore yuan has strengthened against the U.S. dollar, providing some relief to the Chinese economy.

Link: https://www.cnbc.com/2025/05/20/china-cuts-benchmark-lending-rates-for-the-first-time-in-7-months.html