BEIJING, Jan. 12 (Xinhua) -- The People's Bank of China (PBOC), the central bank, announced on Tuesday to raise the deposit reserve requirement ratio by 0.5 percentage points from Jan. 18 this year.
The ratio at small financial institutions such as the rural credit cooperatives would remain unchanged to support the agriculture sector, the PBOC said in a statement.
This is the first time that the PBOC adjusted the ratio of deposit that lenders are required to set aside since the end of 2008 and the first increase for the ratio since June of 2008.
The PBOC has cut the bank reserve requirement ratio for four times in the second half of 2008 to stimulate growth as the global financial crisis started to weigh on the economy.
BEIJING, Jan. 6 (Xinhua) -- The People's Bank of China, the central bank, reiterated on Wednesday that it would maintain a moderately loose monetary policy in 2010 and improve the focus and flexibility of the policy according to new circumstances.
The monetary policy in 2010 would aim to maintain a stable and relatively rapid rate of economic growth, improve the economic structure and manage inflation expectations, the central bank said in a statement on its website after the conclusion of its annual work conference from Jan. 5-6. Full story
BEIJING, Jan. 7 -- China's central bank Wednesday said it will manage inflation expectations and keep a close watch on the property market through its credit and money supply policies.
In a statement on its website, the People's Bank of China (PBOC) said it would try to maintain ample liquidity in the financial system, and ask banks to lend more evenly, while strictly implementing credit policies in the property sector. Full story
A customer checking out a model of a real estate project in Shenzhen, Guangdong province. Property prices in China's 70 major cities rose at the fastest pace in 16 months in November. (China Daily/Qiu Daocen) Photo Gallery>>>
BEIJING, Jan. 10 (Xinhua) -- The General Office of the State Council, China's cabinet, Sunday issued a notice that required central governmental departments and local governments to strengthen management, stabilize market expectations and facilitate stable and sound development of the real estate market.
"With the recovery of the real estate market, such problems as excessively rising house prices have recently emerged in some cities, which call for great attention," said the notice. Full story
Chinese Commerce Minister Chen Deming (L) meets with Turkish State Minister Zafer Caglayan in Ankara, capital of Turkey, on Jan. 7, 2010. (Xinhua/Zheng Jinfa) Photo Gallery>>>
ANKARA, Jan. 7 (Xinhua) -- China's Commerce Minister Chen Deming said here Thursday the stability of the Chinese currency contributes to the recovery of the world economy while voicing concerns over the strength of the U.S. dollar.
"The Chinese government has stated on many occasions it will keep the exchange rate of the yuan, or Renminbi, basically stable," said Chen during a visit to the Turkish capital Ankara, adding "We feel that is an important support and contribution for the world economy, which is undergoing a crucial period of recovering." Full story
