China Deepens Financial Reform

China has ramped up efforts to bolster the real economy through a series of financial reforms and monetary easing measures this year, contributing to overall economic stability, according to the central bank.

Implementing a supportive policy toward financial market, the People’s Bank of Chinahas announced a series of monetary policy adjustments this year.

In terms of the overall volume, the central bank has utilized a range of monetary policy tools, including cutting the reserve requirement ratio, lowering benchmark interest rates, guiding down loan and bond market financing costs, and conducting open market operations for government bonds.

These measures have helped maintain ample liquidity in the financial system, with two Required Reserve Ratio cuts and three Loan Prime Rate reductions this year.