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Welcome to China Business Now, a 3-minute digest of what happened in China’s business sector, presented by 21st Century Business Herald.
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Wednesday Apr 27, 2022
Wednesday Apr 27, 2022
The People's Bank of China (PBC) on Monday evening announced to cut foreign exchange reserve requirement ratio(RRR) for financial institutions by 1 percentage points to 8 percent amid the yuan' accelerated depreciation. According to the central bank, the cut intended to shore up the capacity of financial institutions to use foreign exchange funds, will take effect on May 15.
https://m.21jingji.com/article/20220426/herald/6bfb5d368f8301226f59b56ec7210661.html
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