Current：Home > StocksChina cuts reserve requirements for bank to help boost its slowing economy -AdvancementTrade
China cuts reserve requirements for bank to help boost its slowing economy
View
Date：2025-04-18 22:15:22
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！ (76)
Related
- Former longtime South Carolina congressman John Spratt dies at 82
- Chemours Says it Will Dramatically Reduce Greenhouse Gas Emissions, Aiming for Net Zero by 2050
- Diana Madison Beauty Masks, Cleansers, Body Oils & More That Will Get You Glowing This Summer
- With Hurricanes and Toxic Algae, Florida Candidates Can’t Ignore the Environment
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Firework injuries send people to hospitals across U.S. as authorities issue warnings
- Targeted as a Coal Ash Dumping Ground, This Georgia Town Fought Back
- Warming Trends: Battling Beetles, Climate Change Blues and a Tool That Helps You Take Action
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Appalachia Could Get a Giant Solar Farm, If Ohio Regulators Approve
Ranking
- Questlove charts 50 years of SNL musical hits (and misses)
- Gigi Hadid Spotted at Same London Restaurant as Leonardo DiCaprio and His Parents
- Former Exxon Scientists Tell Congress of Oil Giant’s Climate Research Before Exxon Turned to Denial
- How Khloe Kardashian Is Setting Boundaries With Ex Tristan Thompson After Cheating Scandal
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- Transcript: Former Attorney General Eric Holder on Face the Nation, July 2, 2023
- Migrant workers said to be leaving Florida over new immigration law
- Prince Harry Chokes Up on Witness Stand Amid Phone-Hacking Case
Recommendation
New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
Massachusetts Sues Exxon Over Climate Change, Accusing the Oil Giant of Fraud
Solar’s Hitting a Cap in South Carolina, and Jobs Are at Stake by the Thousands
Tips to help dogs during fireworks on the Fourth of July
'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
YouTuber Grace Helbig reveals breast cancer diagnosis: It's very surreal
The US Wants the EU to Delay Imposing Trade Penalties on Carbon-Intensive Imports, But Is Considering Imposing Its Own
The story behind the flag that inspired The Star-Spangled Banner