China Decides to Raise RMB Reserve Requirement Ratio by 0.5 Percentage Points

The People’s Bank of China has decided to raise the RMB reserve requirement ratio for depository financial institutions by 0.5 percentage points as of Jan. 18, 2010. Small financial institutions such as rural credit cooperatives are temporarily exempted from the adjustment to strengthen financing for the agricultural sector and support preparations for spring farming.

Source: People’s Bank of China – http://www.pbc.gov.cn/english/detail.asp?col=6400&id=1458