April 7, 2019 / 12:46 PM / 10 months ago

China to step up bank reserve ratio cuts to help small firms -state media

SINGAPORE, April 7 (Reuters) - China will step up its policy of targeted cuts to banks’ required reserve ratios to encourage financing for small and medium-sized businesses that play a key role in economic growth, official media reported on Sunday.

China will also accelerate initial public offerings for small and medium-sized companies, Xinhua news agency cited a policy document issued by the State Council, China’s Cabinet, as saying. (Reporting by Chen Aizhu in Singapore and CoCo Li in Beijing Editing by David Goodman)

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