China cuts amount banks hold in reserve to boost lending

China cuts amount banks hold in reserve to boost lending …C0NTINUE READING HERE >>>

Beijing has this week unveiled a raft of measures to boost its ailing economy, which it has targeted to grow five percent this year.
Photo: ADEK BERRY / AFP
Source: AFP

China on Friday cut the amount banks must hold in reserve, releasing an estimated $142.6 billion in liquidity into the financial market as leaders embark on one of their biggest drives in years to kickstart growth.

The move by the People’s Bank of China comes a day after President Xi Jinping and other top officials…

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