BEIJING, Jan. 13 (Xinhua) -- Chinese shares tumbled at the opening Wednesday after the country's central bank announced late Tuesday it would raise the deposit reserve requirement ratio.

    The benchmark Shanghai Composite Index dip 2.11 percent at 3,204.98 points.

    The Shenzhen Component Index lost 2.61 percent to open at 13,031.55 points.

    The People's Bank of China (PBOC) said it would raise the deposit reserve requirement ratio by 0.5 percentage points from Jan. 18 this year.

    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.

China to raise deposit reserve requirement ratio by 0.5 percentage points

    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. Full story

China's central bank reaffirms moderately loose monetary policy, moderate credit growth in 2010

    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

China's central bank to use policy tools to manage inflation, property risks

    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

Special Report:  Global Financial Crisis