Business
19:49, 11-Sep-2017
China scraps reserve requirement on yuan forward settlement
By CGTN's Han Jie
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China's central bank has scrapped reserve requirements of 20 percent for financial institutions settling foreign exchange forward yuan positions, an official said on Monday.
The foreign exchange risk reserve ratio was reduced to zero, according to Sun Guofeng, head of the PBOC financial research institute.
The adjustment was made as the current market environment has changed significantly, which means counter-cyclical macro-prudential policies have returned to neutral, Sun said.
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Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3
Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3