China raises reserve ratio full percentage point

The People's Bank of China upped its reserve requirement ratio by 100 basis points for the first time this year in a fresh bid to cool its overheating economy.

The central bank will require the country's financial institutions to hold 17.5% of their total deposits in reserves under the new measure announced Saturday. It will implement the measure incrementally, requiring banks to hold 17% from 15 June and 17.5% from 25 June.

The move is expected to drain Rmb422 billion ($60.9 billion). The

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: