The People's Bank of China, the central bank, announced on Friday a cut of 0.5 percentage point of the ratio for all banks to take effect from next Monday. It was the third ratio cut so far this year.
BEIJING: China's policymakers have taken a series of key measures over the past week to enhance China's economic strength and sustainability.
As an anticipatory monetary adjustment policy, authorities decided to increase liquidity in the financial sector and encourage banks to lend more funds at lower rates to enterprises.
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