China expanded monetary, fiscal and housing support after economic momentum weakened, cutting the one-year pledged supplementary lending (PSL) rate to 1.5% from 1.75%, broadening infrastructure funding, increasing relending quotas for technology, agriculture, small businesses and private enterprises, and announcing interest subsidies for eligible first-home mortgages from October 1. The measures followed a State Council pledge to accelerate government-bond issuance, use unused local-government debt capacity and support investment, consumption, housing, employment and incomes. China is targeting 4.5%-5% growth after second-quarter growth slowed to 4.3%, amid weak domestic demand and a prolonged property downturn.