December 23, 2019 / 11:57 AM / a month ago

China considering more RRR cuts to lower financing costs: Premier Li

FILE PHOTO: Chinese Premier Li Keqiang attends the East Asia Summit (EAS) in Bangkok, Thailand, November 4, 2019. REUTERS/Chalinee Thirasupa

BEIJING (Reuters) - Chinese Premier Li Keqiang said on Monday the government will study taking more measures to lower financing costs for smaller companies, including broad-based and “targeted” cuts in the reserve requirement ratio (RRR), relending and rediscounting.

Li made the comments during a trip to the southwestern province of Sichuan, according to state television CCTV. He did not give details.

China’s economic growth slowed to near 30-year lows in the third quarter.

Reporting by Beijing monitoring desk; Writing by Yawen Chen; Editing by Toby Chopra

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