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China’s central bank cut the amount of cash some lenders must hold as reserves, the third reduction this year, as it seeks to avoid a credit squeeze.
The required reserve ratio for some banks will drop by 0.5 percentage point effective July 5, the People’s Bank of China said on its website Sunday. The aim of the move is to support smaller enterprises, the central bank said.
— With assistance by Yinan Zhao, and Xiaoqing Pi