China to cut reserve requirement ratio by 0.5 percentage points from May 15
BEIJING, May 7 (Xinhua) -- China's central bank announced Wednesday that it will cut the reserve requirement ratio (RRR) by 0.5 percentage points for financial institutions from May 15.
Financial institutions that have already implemented a 5-percent RRR will be exempt from the upcoming reduction, and the RRR for auto financing and financial leasing companies will be c