China releases US$ 37 billion more to boost economy

China releases US$ 37 billion more to boost economy

Reuters

Central bank reduces reserve requirements to try to stop the country's slowdown.

On Friday, China's central bank reported that it will additionally release about 250 billion yuan (US$ 37 billion or R$ 139 billion) in changes that involve a reduction in the proportion of money that banks must keep as reserves.

On January 4, the central bank had already announced a cut in reserve requirements for this year. The investment is releasing about 800 billion yuan in the economy (US$ 118 billion or R$ 446 billion), as the People's Bank of China tries to lower the risk of a strong economic slowdown in the country.

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