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China unveils plan for targeted lending to aid growth

PBOC will reduce amount of cash banks must hold as reserves from next year

The policy signals that the People's Bank of China is pulling multiple levers to keep economic growth from slowing too sharply in the second half, when the all-important 19th Party Congress takes place.


CHINA'S central bank said it will reduce the amount of cash lenders must hold as reserves from next year, with the size of the cut linked to the flow of funding to parts of the economy where credit is scarce.

The targeted measures apply to all major banks, 90 per cent of...

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