China cuts reserve requirement ratio

BEIJING, Sept. 27 (Xinhua) — China’s central bank on Friday announced a cut in the reserve requirement ratio (RRR) by 0.5 percentage points for financial institutions.
Starting Friday, the weighted average RRR for lenders will come to 6.6 percent, while those having already implemented a 5 percent RRR will not be involved, according to a statement of the People’s Bank of China. ■