Caixin
Dec 04, 2021 03:31 AM
ECONOMY

China Looks to Ease Monetary Policy to Help Smaller Firms, Premier Says

China’s economy has come under increasing pressure from a deepening housing market slump this year, but so far authorities have been restrained in adding new support policies
China’s economy has come under increasing pressure from a deepening housing market slump this year, but so far authorities have been restrained in adding new support policies

(Bloomberg) — China will cut the amount of cash banks have to keep in reserve at a proper time to aid smaller businesses, Premier Li Keqiang said Friday, although he didn’t say when the reduction would take place.

China will continue to implement a prudent monetary policy, keep liquidity reasonably ample and make policies based on the needs of market entities, and it will cut the reserve requirement ratio (RRR) at an appropriate time, Li said in a Friday meeting with International Monetary Fund Managing Director Kristalina Georgieva. The authorities will increase support for the real economy, especially for small and medium-sized companies, to ensure it operates in a stable and healthy manner, he said, according to Chinese state television.

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