July 2, 2019 / 8:04 AM / 2 months ago

China says to make timely use of RRR cuts to support small firms

DALIAN, China (Reuters) - China will make timely use of reserve requirement ratio (RRR) cuts and other financing tools to support small and private firms, Premier Li Keqiang said on Tuesday.

China will significantly lower real financing costs for small firms, with a 1 percentage point cut this year targeted, Li said at the World Economic Forum in the northeastern Chinese port city of Dalian.

Reporting by Kevin Yao; writing by Ryan Woo; Editing by Richard Borsuk

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