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The Central Bank of China announced a rate cut and reserve requirement reduction.
[China’s Central Bank Announces Interest Rate Cut and Reserve Requirement Ratio Reduction] On May 7, Pan Gongsheng, the Governor of the People’s Bank of China, announced at a press conference held by the State Council Information Office that the reserve requirement ratio would be dropped by 0.5 percentage points and the policy interest rate would be lowered by 0.1 percentage points.