SHANGHAI/HONG KONG -- China on Wednesday announced a flurry of monetary stimulus policies, including lowering its policy interest rate, as it steels itself for turbulence ahead of trade talks with the U.S.
Pan Gongsheng, governor of the People's Bank of China, told reporters that the reserve requirement ratio -- the amount of cash that banks need to hold as reserves -- will be cut by half a percentage point from May 15, releasing about 1 trillion yuan ($138.6 billion) in long-term liquidity.
