Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, May 7 (Xinhua) — China’s central bank on Wednesday announced it would cut its reserve requirement ratio by 0.5 percentage point from May 15.
The move is expected to provide about 1 trillion yuan (about $138.9 billion) in long-term liquidity, People’s Bank of China Governor Pan Gongsheng said.
The exception will be financial institutions that already maintain a reserve requirement of 5 percent. The reserve requirement for companies engaged in auto finance and financial leasing will be cut by 5 percentage points, the central bank said in a statement. -0-