China will cut the reserve requirement ratios (RRRs) for small and medium-sized banks effective from May 15th, said the People's Bank of China (PBOC) in a statement on Monday, in a move to ramp up credit support to small companies as trade tensions intensify.
The move will release about 280 billion yuan ($41.23 billion) in long-term funding, which will be used for loans to small and private companies, said the central bank.
According to the statement . . .
To continue reading, please subscribe. You will get
- Original and in-depth reporting with details, data and perspectives you don't read elsewhere
- THE WIRE - a real-time financial news platform focused on China
- Daily Brief newsletter to get you prepared for every trading day
- An indispensable and reliable source of information on China's economy and financial markets
We highly value independence. We are solely funded by subscriptions from thousands of readers like you. Not ready for our full service? Try Free Weekly Newsletter first.
Already have an account? Sign In