Part-HKG-Hkg10149485-1-1-0

China cuts reserve requirements in bid to boost economy

China's central bank cuts the proportion of funds banks must set aside as reservesChina’s central bank on Monday cut the proportion of funds banks must set aside as reserves, in Beijing’s latest attempt to tackle slowing growth in the world’s second largest economy. The People’s Bank of China (PBoC) said in a statement it would trim the so-called “reserve requirement ratio” (RRR) for financial institutions by 0.50 percentage points, freeing up more funds for them to lend. The move came immediately after a G20 finance ministers’ meeting in Shanghai, which stressed the use of all available policy tools to boost global growth, and with Chinese and world stock markets assailed by worries over the economy.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
Russian Lawyer Who Met With Trump Jr. Linked To Group Hired By Democrats https://t.co/pm9NaKceA2 #backfire #leftwing https://t.co/17lD1bMNPr - 3 months ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article