The bank said the funding was partially to offset withdrawals before Lunar New Year. Photo: Reuters
Economy /  China Economy

China’s central bank frees up US$115 billion to support growth

  • People’s Bank of China to cut banks’ reserve ratio by 0.5 percentage points from January 6, it announces
  • The move will provide 800 billion yuan (US$115 billion) to the real economy
Topic |   China economy
Sidney Leng
Sidney Leng

Updated: 12:08pm, 2 Jan, 2020

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The bank said the funding was partially to offset withdrawals before Lunar New Year. Photo: Reuters
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Sidney Leng

Sidney Leng

Sidney Leng joined the Post in 2015 after spending a year and a half working for US media, including National Public Radio and Foreign Policy Magazine. He has been covering China's macroeconomic policies and financial regulations since 2016.