Friday, July 18, 2025
Village Voice News
ADVERTISEMENT
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us
No Result
View All Result
Village Voice News
No Result
View All Result
Home Global

China announces reserve requirement ratio cut to consolidate economic recovery

Admin by Admin
September 15, 2023
in Global
China Flag

China Flag

0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

China’s central bank on September 14 said it will cut the financial-institution reserve requirement ratio (RRR) by 0.25 percentage points from September 15 to consolidate the foundation for economic recovery and keep liquidity reasonably ample.

China’s economy is experiencing sustained recovery, with internal forces powering economic growth continuing to strengthen and social expectations continuing to improve, according to a People’s Bank of China official.

READ ALSO

First the shoes went back on. Now, at U.S. airport security, more liquid in carry-ons may be at hand

International banks raise China GDP forecasts on strong economic data

The reduction is the second RRR cut this year, and it is expected to release over 500 billion yuan (about 69.56 billion U.S. dollars) in medium and long-term liquidity, the official said.

Including the RRR cut in March, reductions this year total 0.5 percentage points and could release over a trillion yuan in medium and long-term liquidity, the official added.

Wen Bin, chief economist of China Minsheng Bank, said that China still faces insufficient internal economic vitality and inadequate demand. He noted that lowering the RRR can guide financial institutions to increase their support for the real economy and boost market confidence in an improved manner.

As approximately 2.8 trillion yuan of medium-term lending facility (MLF) loans are maturing from August to December, Wen said that cutting the RRR is necessary to ensure reasonable liquidity in the market, lower the liability costs for financial institutions, and replace the maturing MLF loans.

The RRR cuts are also conducive to maintaining a loose and favorable financial environment to reducing debt costs as the country moves to resolve hidden local government debt, according to Wen.

After the reduction, the weighted average RRR for financial institutions will be around 7.4 percent, according to a statement released by the central bank.

The central bank said that the cut will not apply to financial institutions that have already implemented a 5 percent RRR.

The latest RRR cut of 0.25 percentage points is a continuation of the overall reduction that began last year, Wen said, noting that the 5 percent RRR is the current lower limit of the RRR.

Considering this lower limit, there remains “significant room for monetary policy adjustment,” Wen noted.

The central bank said it would make prudent monetary policy precise and effective, keep liquidity reasonably ample, maintain moderate credit growth, and ensure money-supply momentum and social financing in line with nominal economic growth.

The central bank will also improve monetary policy support for key areas and weak links, keep the exchange rate stable, and support the sustained recovery of the real economy.

Source: Xinhua News Agency

ShareTweetSendShareSend

Related Posts

Global

First the shoes went back on. Now, at U.S. airport security, more liquid in carry-ons may be at hand

by Admin
July 17, 2025

By The Associated  (WASHINGTON) — Travelers giddy about being able to keep their shoes on while walking through TSA checkpoints at the airport...

Read moreDetails
Workers assemble new energy vehicles at a smart factory in Jinhua, Zhejiang Province, China, June 24, 2025. /VCG
Global

International banks raise China GDP forecasts on strong economic data

by Admin
July 17, 2025

China's economy expanded by 5.3 percent in the first half of 2025, exceeding expectations and prompting multiple major international banks to revise...

Read moreDetails
Chinese Foreign Ministry in Beijing, China. /CFP
Global

U.S. ‘fentanyl tariffs’ undermine China-U.S. anti-drug cooperation: spokesperson

by Admin
July 17, 2025

CGTN - A Chinese Foreign Ministry spokesperson on Thursday said the U.S. insists on imposing "fentanyl tariffs," which seriously undermines...

Read moreDetails
Next Post
AFC Chairman  David Patterson, MP

Former Minister Identifies Key Causes of Blackouts and Low Voltage in Guyana's Power Grid


EDITOR'S PICK

Growth in Market Capitalization

December 5, 2021

GNBS Opens Lethem Office

November 16, 2022

Grannies recreate Rihanna’s Super Bowl performance in TikTok video

February 27, 2023
GHK Lall

PPP style caring and assisting

January 22, 2023

© 2024 Village Voice

No Result
View All Result
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us

© 2024 Village Voice