China's massive consumer base is just not spending enough.Kevin Frayer/Getty ImagesChina just announced aggressive monetary stimulus measures to boost its struggling economy.They include interest rate cuts, liquidity support, and reduced bank reserve requirements.Analysts are divided on the impact, citing ongoing challenges like low consumer confidence.China's finally getting serious about stimulating its dismal economy.On Tuesday, three of its top financial regulators appeared side by side in a rare press conference on the economy where People's Bank of China governor Pan Gongsheng announced a broad range of monetary stimulus measures.They include cutting a short-term key interest rate and reducing reserve requirement ratio, or RRR, to the lowest level since at least 2018.

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