FILE PHOTO: Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China, in this March 30, 2016 file picture. REUTERS/Kim Kyung-Hoon/File Photo
April 7, 2019
SINGAPORE (Reuters) – China will step up its policy of targeted cuts to banks’ required reserve ratios to encourage financing for small and medium-sized businesses that play a key role in economic growth, official media reported on Sunday.
China will also accelerate initial public offerings for small and medium-sized companies, Xinhua news agency cited a policy document issued by the State Council, China’s Cabinet, as saying.
(Reporting by Chen Aizhu in Singapore and CoCo Li in Beijing; Editing by David Goodman)