April 25, 2019 / 2:49 AM / 9 months ago

China c.bank to set up framework to lower RRR for small, medium banks - media

BEIJING, April 25 (Reuters) - China’s central bank said on Thursday that it will accelerate efforts to set up a policy framework to lower reserve requirement ratios (RRRs) for small- and medium-sized banks, according to state-owned China National Radio.

Funds released from lower RRRs will be used to support private and small companies, China National Radio said, citing the People’s Bank of China.

The comments echo those from the state council last week saying the government will set up a policy framework to implement relatively low reserve requirement ratios for medium and small banks. (Reporting by Beijing Monitoring Desk Editing by Jacqueline Wong)

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