Current：Home > NewsChina cuts reserve requirements for bank to help boost its slowing economy -Thrive Financial Network
China cuts reserve requirements for bank to help boost its slowing economy
View
Date：2025-04-17 15:10:16
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！ (215)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Texas highway chase ends with police ripping apart truck’s cab and pulling the driver out
- 2 models of Apple Watch can go on sale again, for now, after court lifts halt over a patent dispute
- Almcoin Trading Center: Why is Inscription So Popular?
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Amazon to show ads in Prime Video movies and shows starting January 29, 2024
- North Korea’s Kim vows to bolster war readiness to repel ‘unprecedented’ US-led confrontations
- Texas has arrested thousands on trespassing charges at the border. Illegal crossings are still high
- The Super Bowl could end in a 'three
- Nikki Haley, asked what caused the Civil War, leaves out slavery. It’s not the first time
Ranking
- What do we know about the mysterious drones reported flying over New Jersey?
- Gaming proponents size up the odds of a northern Virginia casino
- Over 50 French stars defend Gérard Depardieu with essay amid sexual misconduct claims
- Deported by US, arrested in Venezuela: One family’s saga highlights Biden’s migration challenge
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Teddi Mellencamp Gets Shoulder Skin Cut Out in Surgery Amid Cancer Battle
- Teen killed when Louisiana police chase ends in a fiery crash
- Trapped in his crashed truck, an Indiana man is rescued after 6 days surviving on rainwater
Recommendation
Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
Spoilers! Why Zac Efron 'lost it' in emotional ending scene of new movie 'The Iron Claw'
A Battle Is Underway Over California’s Lucrative Dairy Biogas Market
University of Wisconsin system fires chancellor for reputation-damaging behavior
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
Gypsy Rose Blanchard set to be paroled years after persuading boyfriend to kill her abusive mother
When will you die? Meet the 'doom calculator,' an artificial intelligence algorithm
2 models of Apple Watch can go on sale again, for now, after court lifts halt over a patent dispute