Year-ender: Major economic events in China
chinadaily.com.cn| Updated: Dec 20, 2019
Cut reserve requirement ratio
An employee counts banknotes in Hong Kong. [Photo/VCG]
China's central bank cut the reserve requirement ratio three times, Jan 4, May 6 and Sept 6.
The central bank cut the requirement reserve ratio by 0.5 percentage points on Jan 15 and Jan 25.
About 1,000 county-level rural commercial banks enjoy a favorable requirement reserve ratio of 8 percent starting from May 15.
The central bank cut the reserve requirement ratio for financial institutions by 50 basis points from Sept 16 in the latest effort to bolster the economy.