December 30, 2024

China's central bank has employed a multi-pronged approach to support economic growth in 2024, which experts say has effectively supported the real economy.

The People's Bank of China (PBOC) cuts the reserve requirement ratio twice, releasing approximately 2 trillion yuan ($274 billion) in liquidity.

In July and September, the PBOC lowered the interest rate of the 7-day open market reverse repurchase operation by 10 and 20 basis points respectively, guiding the medium-term lending facility rate, the loan prime rate (LPR) and other rates downward.

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