China cuts banks' reserve ratio by 50 bps as economic growth sputters

Q: How long will it take to read this news story?

The story "China cuts banks&#039; reserve ratio by 50 bps as economic growth sputters" has 627 words across 21 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "China cuts banks&#039; reserve ratio by 50 bps as economic growth sputters" was covered 7 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 271 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22744543</li><li>URL: https://beamstart.com/news/china-cuts-banks-reserve-ratio-17274121639432</li></ul>

Business Standard Logo Business Standard 7h ago

China cuts banks' reserve ratio by 50 bps as economic growth sputters - Business Standard

Quick Summary:

People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5 per cent reserve ratio.

Although authorities have permitted local state-owned enterprises to purchase unsold completed homes, progress has been sluggish, and local government finances are under strain amidst a push for debt reduction.

The government is aiming for economic growth of around 5.0 per cent for 2024.