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China moves to increase bank lending

02-19-2012 11:48 BJT

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China's central bank says it will reduce the amount of money banks have to keep in reserve, the reserve requirement ratio in a bid to increase lending and ease the short-term credit crunch. It also hopes the move will secure growth as external demand weakens.

The cut the second of its kind in three months will cut the ratio by 50 basis points to 20-point-5 percent for large commercial banks and 17 percent for medium- and small-sized banks. The move will become effective on February 24th and release an estimated 400-billion yuan in capital into the market.

In December of last year the People’s Bank of China cut the reserve requirement ratio by 50 basis points for the first time in three years after hiking the ratio six times last year in an effort to check inflation.






Editor:Zhang Pengfei |Source: CNTV.CN

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