China cuts interest rates to 5.1% as economy slows


China's central bank has cut interest rates for the second time this year, amid a continuing economic slowdown.

It lowered its benchmark rate by 25 basis points to 5.1%, saying the move was aimed at boosting development.

Last year's growth rate - 7.4% down from 7.7% in 2013 - was the weakest in 24 years.

The cut is the third in six months and will take effect from Monday.