Current：Home > FinanceChina cuts reserve requirements for bank to help boost its slowing economy -Ascend Finance Compass
China cuts reserve requirements for bank to help boost its slowing economy
View
Date：2025-04-11 17:04:37
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！ (137)
Related
- Trump wants to turn the clock on daylight saving time
- Ryan Gosling Responds to Barbie Fans Criticizing His Ken Casting
- On a Melting Planet, More Precisely Tracking the Decline of Ice
- Skull found by California hunter in 1991 identified through DNA as remains of missing 4-year-old Derrick Burton
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- You'll Spend 10,000 Hours Obsessing Over Justin Bieber and Hailey Bieber's Beach Getaway
- Cost of Coal: Electric Bills Skyrocket in Appalachia as Region’s Economy Collapses
- Full transcript of Face the Nation, June 25, 2023
- SFO's new sensory room helps neurodivergent travelers fight flying jitters
- Drought Fears Take Hold in a Four Corners Region Already Beset by the Coronavirus Pandemic
Ranking
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- Energizing People Who Play Outside to Exercise Their Civic Muscles at the Ballot Box
- Channing Tatum Shares Lesson He Learned About Boundaries While Raising Daughter Everly
- ‘We Need to Hear These Poor Trees Scream’: Unchecked Global Warming Means Big Trouble for Forests
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Here's who controls the $50 billion opioid settlement funds in each state
- Save 71% At BaubleBar's Mind-Blowing Memorial Day Sale with $4 Deals on Jewelry and Accessories
- American Whitelash: Fear-mongering and the rise in white nationalist violence
Recommendation
NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
Wyoming Bill Would All But Outlaw Clean Energy by Preventing Utilities From Using It
Cheer's Morgan Simianer Marries Stone Burleson
Gabrielle Union and Dwyane Wade Honor Daughter Zaya on Sweet 16 Birthday
South Korean president's party divided over defiant martial law speech
Alzheimer's drug Leqembi gets full FDA approval. Medicare coverage will likely follow
U.S. Wind Energy Installations Surge: A New Turbine Rises Every 2.4 Hours
New Study Shows Global Warming Intensifying Extreme Rainstorms Over North America