PBC to lower ra­tio

Global Times US Edition - - BIZUPDATE -

The Peo­ple’s Bank of China (PBC), the cen­tral bank, an­nounced on Tues­day it will lower the re­serve re­quire­ments for some fi­nan­cial in­sti­tu­tions.

The re­serve ra­tio re­quire­ment for large-scale com­mer­cial banks, joint-stock com­mer­cial banks, city com­mer­cial banks, ru­ral com­mer­cial banks that are not at county lev­els and for­eign banks will be cut by 1 per­cent­age point start­ing from April 25, ac­cord­ing to a state­ment on the PBC’s of­fi­cial web­site.

The move aims to in­crease sup­port for small and mi­cro en­ter­prises, to strengthen the sta­bil­ity of funds cir­cu­lated in the bank­ing sys­tem, and to op­ti­mize the liq­uid­ity struc­ture, the PBC said in the state­ment.

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