BEIJING, Sept. 5 (Xinhua) -- China's central bank said on Monday that it will cut forex reserve requirement ratio for financial institutions by 2 percentage points from Sept. 15.
The reserve requirement ratio will be reduced to 6 percent from the current 8 percent, the People's Bank of China said in a short notice on its website.
The move aims to improve the capacity of financial institutions to use forex funds, according to the notice. ■
