Current：Home > InvestChina cuts reserve requirements for bank to help boost its slowing economy -Stellar Financial Insights
China cuts reserve requirements for bank to help boost its slowing economy
View
Date：2025-04-18 05:28:21
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！ (59)
Related
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- 'No reason to be scared': Why some are turning to 'death doulas' as the end approaches
- New Hampshire voter exit polls show how Trump won the state's 2024 Republican primary
- North Carolina technology company Bandwidth leaves incentive agreement with the state
- Could your smelly farts help science?
- Maryland appeals court throws out murder conviction of former US intelligence director’s daughter
- Love Is Blind's Marshall Glaze Is Engaged to Chay Barnes
- The UN refugee chief says that he’s worried that the war in Ukraine is being forgotten
- 2 killed, 3 injured in shooting at makeshift club in Houston
- Death toll in southwestern China landslide rises to 34 and 10 remain missing
Ranking
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Why Jazz Jennings Feels Happier and Healthier After Losing 70 Pounds
- India's Modi inaugurates huge Ayodhya Ram Temple on one of Hinduism's most revered but controversial sites
- Jessica Biel says she loves to eat in the shower: 'I find it deeply satisfying'
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- Court in Thailand will decide whether politician blocked as prime minister will also lose his seat
- U.S. strikes Iranian-backed militias in Iraq over wave of attacks on American forces
- Tesla 4Q net income doubles due to tax benefit but earnings fall short of analyst estimates
Recommendation
Retirement planning: 3 crucial moves everyone should make before 2025
Maryland appeals court throws out murder conviction of former US intelligence director’s daughter
Ford recalls nearly 1.9 million older Explorer SUVs over loose trim pieces that may increase risk of crash
Baseball Hall of Fame 2024 results: Adrián Beltré, Joe Mauer and Todd Helton voted in
The company planning a successor to Concorde makes its first supersonic test
Vatican tribunal rejects auditor’s wrongful termination lawsuit in a case that exposed dirty laundry
China says it’s working to de-escalate tensions in the Red Sea that have upended global trade
Tina Knowles Sets the Record Straight After Liking Post Shading Janet Jackson