Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
‘Avengers: Endgame’ Has Made 400 Million Yuan in China – And It’s Not Even Out Yet
Huawei Takes Second Crack at Brazilian Smartphone Market
China Confirms Date of Second Belt and Road Forum
LATEST
Politburo Warns of Lingering Pressure on Economy, Vows Support
Huawei Takes Second Crack at Brazilian Smartphone Market
‘Avengers: Endgame’ Has Made 400 Million Yuan in China – And It’s Not Even Out Yet
Sinovation-Backed Education Firm Secures $140 Million in New Funding
China ‘Regrets’ WTO Ruling on Agriculture Trade Restrictions
China Stock Photo Giant Fined for Trying to Copyright Black Hole
China Confirms Date of Second Belt and Road Forum
China Needs to Fight Nonfinancial Money Laundering, Global Body Finds
Buick Rolls Out First Electric Car for China
People’s Daily Website Reports Booming Profit
China’s Starbucks Rival Raises $150 Million in BlackRock-Led Round
National Rules on Online Lending Still Far From Sight
Cabinet Reaffirms No ‘Flood-Like’ Stimulus, Continued Support for Small Firms
Central Bank Injects Less Liquidity Than It Rolls Back
Transit Control System Provider Seeks $1.5 Billion IPO on New Tech Board
China Pushes to Restore Morale at Corruption-Tainted Science Institute
Anbang Cuts Registered Capital, Allowing Creditors to Demand Repayment
Vatican Accepts Invitation to Exhibit at China Horticulture Expo
Taiwan's Richest Man Announces Bid for Top Office, Citing Advice From Goddess
BAIC’s New-Energy Unit Expects Drop in Lower-End Sales as Subsidies Dry Up

By Leng Cheng / Jan 04, 2019 06:13 PM / Economy

China’s central bank announced Friday that it will cut the amount of money that banks have to hold in reserve, releasing a net 800 billion yuan ($116.5 billion) into the financial system to ensure an ample supply of cash ahead of the Spring Festival holidays.

The People’s Bank of China (PBOC) plans to cut the reserve requirement ratio (RRR) twice this month, once on Jan. 15 and once on Jan. 25, for a total reduction of 100 basis points.

"The cut should be seen as a targeted adjustment, rather than flooding the financial system," the PBOC said in a separate explanatory filing that emphasized it was not altering the "moderate stance" of China’s monetary policy.

The central bank’s announcement came just hours after Premier Li Keqiang promised to cut the RRR and lower taxes and fees to help the country’s small and private firms.


Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.