June 17, 2020 / 11:51 AM / 16 days ago

China to step up monetary easing to support the economy - cabinet

BEIJING, June 17 (Reuters) - China will step up monetary policy easing and keep liquidity “reasonably ample”, the state cabinet said in a meeting chaired by premier Li Keqiang on Wednesday, as it looks to support the economy and help small and medium-sized firms.

The cabinet indicated the Chinese government will keep liquidity ample through cutting the required reserved ratio (RRR) - the amount of cash banks are required hold - and re-lending, while guiding market interest rates lower, state broadcaster CCTV reported.

The government will ensure that China’s issuance of new yuan-denominated loans and total social financing in 2020 exceed the amount last year, the report added. (Reporting by Lusha Zhang, Colin Qian and Kevin Yao; Writing by Yawen Chen; Editing by Andrew Heavens)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below