CHINA-FINANCIAL RELIEF: HEALTH EMERGENCY
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Caixin reported (March 14) that China’s policymakers are trying to shore up the economy as
the coronavirus pandemic continues to shake global markets. The central bank decided on
March 13 to once again cut the amount of money banks must keep in reserve to cover
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losses, unleashing 550 billion yuan ($78.5 billion) of long-term liquidity into the banking
system. The People’s Bank of China (PBOC) announced it will provide targeted reserve
requirement ratio (RRR) cuts for banks that meet criteria based on lending to certain groups,
including small businesses, low-income individuals and students.
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