China's central bank said that it will implement targeted reserve requirement ratio cuts for eligible banks, starting from next Monday. The move will release 550 billion yuan, about 79 billion U.S. dollars, of long-term funds. The cuts target inclusive finance. Banks that meet certain criteria are eligible for 50 to 100 basis points reserve requirement ratio cuts. Eligible joint-stock commercial banks will also be given an additional targeted cut of 100 basis points to support lending in inclusive finance.