Central Bank: From September 27, the reserve requirement ratio for financial institutions will be lowered by 0.5 percentage points.

According to the news from the People's Bank of China on September 27th, the People's Bank of China adheres to a supportive monetary policy stance, increases the intensity of monetary policy regulation, and enhances the accuracy of monetary policy regulation, to create a good monetary and financial environment for the stable and high-quality development of the Chinese economy. The People's Bank of China has decided that starting from September 27, 2024, it will lower the reserve requirement ratio for financial institutions by 0.5 percentage points (excluding financial institutions with a 5% reserve requirement ratio already in effect). After this reduction, the weighted average reserve requirement ratio for financial institutions is approximately 6.6%. This article is selected from the official website of the People's Bank of China, edited by GMTEight: Chen Wenfang.