The People's Bank of China decided to implement the inclusive financial targeted RRR cuts
In order to support the development of the real economy and reduce the actual cost of social financing, the People's Bank of China decided to implement the inclusive financial targeted RRR cuts on March 16, 2020.
To the banks that have met the assessment criteria the targeted RRR cuts is 0.5 to 1 percentage point.
In addition, the qualified joint-stock commercial banks will be further reduced by 1 percentage point to support the issuance of loans to the inclusive financial sector.
The above-mentioned targeted RRR cuts totaled 550 billion yuan of long-term funds.
To the banks that have met the assessment criteria the targeted RRR cuts is 0.5 to 1 percentage point.
In addition, the qualified joint-stock commercial banks will be further reduced by 1 percentage point to support the issuance of loans to the inclusive financial sector.
The above-mentioned targeted RRR cuts totaled 550 billion yuan of long-term funds.
