5t3v3
2021-07-09
Nice nice
China cuts reserve requirements to support economic recovery
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As the economy staged a strong rebound, aided by the surprisingly resilient exports, the PBOC had since shifted to a moderately tightening bias.</p>\n<p>The country's cabinet said on Wednesday that authorities will use timely cuts in RRR to help small firms cope with the negative impact from rising commodity prices, which came as a surprise to the market.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAAS":"中汽系统","000001.SH":"上证指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2150980376","content_text":"BEIJING, July 9 (Reuters) - China's central bank said on Friday it would cut the amount of cash that banks must hold as reserves, releasing around 1 trillion yuan ($154.19 billion) in long-term liquidity to help underpin an economic recovery that is starting to lose momentum.\nThe People's Bank of China (PBOC) said on its website it would cut the reserve requirement ratio $(RRR)$ for all banks by 50 basis points (bps), effective on July 15.\nBanks that are subject to an RRR of 5% will be exempted from the new cut.\nThe PBOC last cut the RRR in April last year, when the Chinese economy was still badly jolted by the coronavirus crisis. 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