Beijing will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio, or RRR, by 50 basis points in the near term, People's Bank of China Gov. Pan Gongsheng said.

The country’s central bank also freed commercial banks to lend more money in a package of moves aimed at rekindling growth in a stagnant economy.

The new actions show the government's resolve to get growth back on track — but also the limits of the policy tools it's willing to use to achieve that goal.

The Peoples Bank of China plans to cut the reserve requirement ratio by 50 basis points, with further reductions expected by year-end. Governor Pan Gongsheng suggested additional rate cuts, including a reduction in

China announced a broad range of stimulus measures on Tuesday to support the faltering economy, stabilise the housing sector and restore market confidence. Stocks and bonds jumped after the announcement.

The Chinese central bank has reduced the amount of reserves banks are required to keep, among other moves it is rolling out to help revive the slowing economy

China's central bank reduces required reserves for lenders, part of a slew of moves to support the slowing economy

China's central bank on Tuesday unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk and back towards the government's growth target, but analysts warned more fiscal help was vital to hit these goals.

China’s central bank lowered a short-term policy rate and pumped more liquidity into the financial system, as it continues efforts to help boost the economy.