World News

China central bank will continue to support smaller firms via targeted RRR cuts

BEIJING (Reuters) – China’s central bank said on Thursday it will continue to guide credit to support the real economy, especially smaller firms, via measures including targeted cuts in banks’ reserve requirement ratios (RRR) and re-lending.

Since early February, the central bank has unveiled a raft of measures from cutting lending rates and making cheap loans at subsidized rates to providing payment relief to firms that have been hardest hit by the coronavirus outbreak and containment measures.

(Reporting by Lusha Zhang, Judy Hua and Se Young Lee; Editing by Toby Chopra)