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January 25, 2024
Abstract : China's central bank will cut the reserve requirement ratio for financial institutions by 0.5 percentage points from Feb. 5, said Pan Gongsheng, governor of the People's Bank of China, on Wednesday.
BEIJING, Jan. 24 (Xinhua) -- China's central bank will cut the reserve requirement ratio for financial institutions by 0.5 percentage points from Feb. 5, said Pan Gongsheng, governor of the People's Bank of China, on Wednesday.
The move is expected to provide the market with long-term liquidity of some 1 trillion yuan (140.85 billion U.S. dollars), Pan said.
This is the first reserve requirement ratio reduction this year, following two cuts last year.
Keyword: China's central bank reserve requirement ratio Financial Str. Release
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