China Decreased Banks Reserve Ratio by 0.25% Effective 27th March 2023 to Improve Liquidity & Support Economic Recovery, Weighted Reserve Ratio Requirements at 7.6% after 0.25% Decrease
18th March 2023 | Hong Kong
China central bank the People’s Bank of China (PBOC) will decrease banks’ Reserve Ratio by 0.25% (25 bps) effective 27th March 2023 to improve liquidity and support economic recovery, with the average weighted reserve ratio requirements at 7.6% after the 0.25% decrease (25 bps). The 0.25% decrease (25 bps) will not be applicable for banks which has a 5% reserve ratio requirement. Earlier in March 2023, China President Xi Jinping (2013 to 2018, 2028 to 2023) was elected as China President for the 3rd term for 5 years from 2023 to 2028 (10/3/23, at Beijing Great Hall of the People), and names Li Qiang as China next Premier (11/3/23). Li Qiang is the former party chief of Shanghai. China President Xi Jinping (Age 69) had received all (unanimous) 2,952 votes as China President. China is the 2nd largest economy in the world with $17.7 trillion GDP, the largest population in the world with 1.4 billion people, and has 51,000 UHNWs (2nd most, ultra high net worth with $30 million & above) & 1.53 Million HNWs (4th most). More info below.
” China Decreased Banks Reserve Ratio by 0.25% Effective 27th March 2023 to Improve Liquidity & Support Economic Recovery, Weighted Reserve Ratio Requirements at 7.6% after 0.25% Decrease “
China Decreased Banks Reserve Ratio by 0.25% Effective 27th March 2023 to Improve Liquidity & Support Economic Recovery, Weighted Reserve Ratio Requirements at 7.6% after 0.25% Decrease
China President Xi Jinping Elected as President for 3rd Term for 5 Years from 2023 to 2028 and Names Li Qiang as Next Premier, 2nd Largest Economy with $17.7 Billion GDP, 1.4 Billion Population, 51,000 UHNWs & 1.53 Million HNWs
11th March 2023 – China President Xi Jinping (2013 to 2018, 2028 to 2023) has been elected as China President for the 3rd term for 5 years from 2023 to 2028 (10/3/23, at Beijing Great Hall of the People), and names Li Qiang as China next Premier (11/3/23). Li Qiang is the former party chief of Shanghai. China President Xi Jinping (Age 69) had received all (unanimous) 2,952 votes as China President. The National People’s Congress (NPC) also appointed Zhao Leji as NPC Head and Han Zheng China Vice-President. In 2018, China amended the legislation to remove presidential term limit. China current Premier Li Keqiang will retire (13/3/23, Monday) after serving 2 5-years term. China is the 2nd largest economy in the world with $17.7 trillion GDP, the largest population in the world with 1.4 billion people, and has 51,000 UHNWs (2nd most, ultra high net worth with $30 million & above) & 1.53 Million HNWs (4th most).
China Central Bank PBOC 2023 Focus: Support China Economy & Financing Costs, Financial System Upgrade, Regulates Platform Economy & Pilot Digital CNY
7th January 2023 – China central bank People’s Bank of China (PBOC) has announced the 2023 key focus, including supporting China economy & financing costs, financial system upgrade, regulations on platform economy and expanding pilot programs on digital CNY (Chinese Yuan currency). People’s Bank of China: “Financial support will be amplified for the domestic supply and demand system … … We will give full play to the function of monetary and credit policy tools to deliver strong support for the recovery and expansion of consumption, key infrastructure and the construction of major projects in line with national development plans.
People’s Bank of China
People’s Bank of China: “Financial support will be amplified for the domestic supply and demand system … … We will give full play to the function of monetary and credit policy tools to deliver strong support for the recovery and expansion of consumption, key infrastructure and the construction of major projects in line with national development plans.
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