October 3, 2024

China central bank releases slate of support measures amid a deepening economic slump

 China central bank releases slate of support measures amid a deepening economic slump

China central bank releases slate of support measures amid a deepening economic slump

Beijing will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio, or RRR, by 50 basis points in the near term, People’s Bank of China Gov. Pan Gongsheng said.