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Chen Yulu, Deputy Governor of the People’s Bank of China (PBOC), said on Monday that China will adopt “dynamic adjustment” of targeted reserve requirement ratio (RRR) cut policies in the near future, Xinhua reports.

Chen said that such a move is for better use of inclusive financing to shore up the virus-hit economy.

Additional quotes:

Will also step up the utilization of structural monetary policy tools and enable the country’s three policy banks to better play their roles.

Currently, China’s monetary policy space and policy tools remain sufficient.