China's central bank to cut forex reserve requirement ratio by 2 percentage points
09:46 UTC+8, 2023-09-01
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China's central bank said on Friday that it will cut forex reserve requirement ratio for financial institutions by 2 percentage points from September 15.
09:46 UTC+8, 2023-09-01
0
China's central bank said on Friday that it will cut forex reserve requirement ratio for financial institutions by 2 percentage points from September 15.
The reserve requirement ratio will be reduced to 4 percent from the current 6 percent, the People's Bank of China said in a short notice on its website.
The move aims to improve the capacity of financial institutions to use forex funds, according to the notice.
Source: Xinhua
Editor: Zhu Ying
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