Central Bank: Cut The Deposit Reserve Ratio Of Financial Institutions By 0.5% On July 15

In order to support the development of the real economy and promote the steady decline of the comprehensive financing cost, the people's Bank of China has decided to reduce the deposit reserve ratio of financial institutions by 0.5 percentage point on July 15, 2021 (excluding the financial institutions that have implemented the 5% deposit reserve ratio). After this reduction, the weighted average deposit reserve ratio of financial institutions is 8.9%.

Since the beginning of this year, the prices of some bulk commodities have continued to rise, and some small and micro enterprises are facing operational difficulties such as rising costs. China adheres to the stability and effectiveness of monetary policy and does not engage in flood irrigation, but makes accurate efforts to increase support for small and micro enterprises. In the next step, the people's Bank of China will continue to implement a stable monetary policy, adhere to the principle of stability, maintain reasonable and sufficient liquidity, keep the growth rate of money supply and social financing scale basically match the economic growth rate of the same name, do a good job in cross cycle design, and support small and medium-sized enterprises, green development, and scientific and technological innovation, To create a suitable monetary and financial environment for high-quality development and supply side structural reform.