PBOC: Will implement relatively low RRR for small and medium banks

China’s state news agency, Xinhua, reports the latest statement issued by the Chinese central bank, the People’s Bank of China (PBOC), citing that it will set up a policy framework to implement relatively low Reserve Requirement Ratio (RRR) for small and medium banks.

The bank also said that it will use funds released from lower RRR for small and medium banks to support private and small companies.