The People’s Bank of China has changed the definition of a small business, meaning an enterprise with a credit line of less than 10 million yuan (US$1.46 million) will qualify for targeted reserve-requirement ratio cuts. Photo: AFP

China makes ‘US$102 billion’ move to aid slowing economy, but will it be effective?

  • The People’s Bank of China has changed the definition of a small business to encourage banks to increase lending amid the trade war with the United States
  • Estimates of amount of liquidity the targeted reserve-requirement ratio cut will release range from 400 billion yuan to 700 billion yuan
Topic |   China economy

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The People’s Bank of China has changed the definition of a small business, meaning an enterprise with a credit line of less than 10 million yuan (US$1.46 million) will qualify for targeted reserve-requirement ratio cuts. Photo: AFP
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Orange Wang

Orange Wang

Orange Wang covers the Chinese macroeconomy, and has many years of experience with China's monetary and fiscal policy moves. He also covered global market and financial news for a long time, with a particular focus on new technologies and their influences on economic growth and society. Before joining the South China Morning Post, Orange worked as a Shanghai Correspondent for ET Net, a Hong Kong financial news agency.