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China cuts bank reserve requirements, will boost property lending
![IndiaTimes]()
Wednesday, 24 January 2024
China's central bank announced Wednesday that it will reduce the ratio of reserves that banks must retain as part of a series of measures to assist the weakening economy. The People's Bank of China's decision triggered a rise in share prices, with Hong Kong's benchmark rising 3.6%. Central bank governor Pan Gongsheng said the deposit reserve requirement would be cut by 0.5 percentage points as of February 5.
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Wednesday, 24 January 2024
