BEIJING, April 17 (Reuters) - China's central bank still
needs to maintain relatively high reserve requirement ratios for
banks to fend off financial risks, it said on Tuesday as it
announced plans to cut ratios for most banks by 100 basis
In a question and answer statement released on its website
following the announced reserve cut, it said it would require
financial institutions to use the newly-released funds from the
reserve cut to provide loans to small and micro companies.
It also said it would guide reasonable and steady growth in
credit and social financing.
($1 = 6.2796 Chinese yuan)
(Reporting by Josephine Mason and Beijing Monitoring Desk
Editing by Jacqueline Wong)
© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.