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Liquidity injection to support growth

By Chen Jia | China Daily | Updated: 2019-01-05 06:15

China's central bank said on Friday that it will inject a net amount of nearly 800 billion yuan ($116.6 billion) of capital into the economy to support economic growth after operations that include further reducing the deposit amounts that financial institutions are required to keep as reserves.

The reserve requirement ratio, the money that financial institutions must hold in reserve as a share of total deposits, will drop by 0.5 percentage point on Jan 15, and another 0.5 percentage point will be cut on Jan 25, the People's Bank of China announced.

After those two cuts, the ratios for large banks will decrease to 12 to 13.5 percent, down by a total of 3.5 percentage points since the beginning of 2018. The central bank reduced the required reserves four times last year.

Liquidity injection to support growth

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