Current：Home > NewsChina cuts reserve requirements for bank to help boost its slowing economy -WealthPro Academy
China cuts reserve requirements for bank to help boost its slowing economy
View
Date：2025-04-17 11:38:03
BANGKOK (AP) — China’s central bank said Wednesday it will cut the ratio of reserves banks must hold to help boost the slowing economy.
The announcement by the People’s Bank of China prompted a surge in share prices in Chinese markets, with Hong Kong’s benchmark jumping 3.6%.
Central bank Gov. Pan Gongsheng said the deposit reserve requirement would be cut by 0.5% as of Feb. 5. Pan said that would inject about 1 trillion yuan ($141 billion) into the economy.
He told reporters in Beijing that the central bank also soon plans to issue a policy on lending to property developers to help support the industry.
veryGood！ (3)
Related
- USA women's basketball live updates at Olympics: Start time vs Nigeria, how to watch
- Blac Chyna Reduces Her Breast Size in Latest Plastic Surgery Reversal Procedure
- Fighting in southern Gaza city after Israel says it is pulling thousands of troops from other areas
- Plane catches fire on runway at Japan’s Haneda airport
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Anderson Cooper's Giggle Fit Steals the Show After Andy Cohen's Sex Confession on New Year's Eve
- Joey Daccord posts second career shutout as Seattle topples Vegas 3-0 in Winter Classic
- Michigan vs. Alabama Rose Bowl highlights, score: Wolverines down Alabama in OT thriller
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Chad appoints a former opposition leader as prime minister of transitional government
Ranking
- Messi injury update: Ankle 'better every day' but Inter Miami star yet to play Leagues Cup
- What you've missed. 2023's most popular kids shows, movies and more
- First chance to see meteors in 2024: How to view Quadrantids when meteor showers peak
- The long-awaited FAFSA is finally here. Now, hurry up and fill it out. Here's why.
- RFK Jr. closer to getting on New Jersey ballot after judge rules he didn’t violate ‘sore loser’ law
- Powerful earthquakes off Japan's west coast prompt tsunami warnings
- China's first domestically built cruise ship, the Adora Magic City, sets sail on maiden voyage
- Horoscopes Today, December 30, 2023
Recommendation
Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
What you've missed. 2023's most popular kids shows, movies and more
Sophia Bush Says 2023 “Humbled” and “Broke” Her Amid New Personal Chapter
Michigan didn't flinch in emotional defeat of Alabama and is now one win from national title
Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
Natalia Grace Docuseries: Why the Ukrainian Orphan Is Calling Her Adoptive Mom a Monster
The long-awaited FAFSA is finally here. Now, hurry up and fill it out. Here's why.
What does auld lang syne mean? Experts explain lyrics, origin and staying power of the New Year's song