Xinhua: The People’s Bank of China will lower the deposit reserve ratio

The People’s Bank of China will lower the deposit reserve ratio

Pan Gongsheng, governor of the People’s Bank of China, said at a press conference held by the State Council Information Office on September 24 that the deposit reserve ratio will be lowered by 0.5 percentage points in the near future, providing about 1 trillion yuan of long-term liquidity to the financial market; the deposit reserve ratio may be further lowered this year depending on the market liquidity situation.

Source: Xinhua News Agency