The People’s Bank of China will reduce the required reserve ratio by one percentage point this month so that banks have sufficient funds to lend. Photo: AFP

China prepares for testing 2019 by freeing up US$210 billion in latest move to boost ailing economy

  • People’s Bank of China to cut required reserve ratio by one percentage point in January
  • Move came hours after Chinese Premier Li Keqian told the central bank to do more to help the growth of the world’s second largest economy
Topic |   China economy

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The People’s Bank of China will reduce the required reserve ratio by one percentage point this month so that banks have sufficient funds to lend. Photo: AFP
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Frank Tang

Frank Tang

Frank Tang joined the SCMP in 2016 after a decade of China economy coverage and government policy analysis.

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.