Central Bank Governor Pan Gongsheng said at the 2024 Financial Street Forum annual meeting that on September 27, the deposit reserve ratio was lowered by 0.5 percentage points. It is expected that before the end of the year, depending on market liquidity conditions, the deposit reserve ratio will be further lowered by 0.25-0.5 percentage points; the 7-day reverse repurchase operating interest rate in the open market will be lowered by 0.2 percentage points; and the medium-term loan facility interest rate will drop 0.3 percentage points. This morning, commercial banks announced a reduction in deposit interest rates. It is expected that the loan market quoted interest rate announced on the 21st will also drop by 0.2-0.25 percentage points.

Central Bank Governor Pan Gongsheng said at the 2024 Financial Street Forum annual meeting that on September 27, the deposit reserve ratio was lowered by 0.5 percentage points. It is expected that before the end of the year, depending on market liquidity conditions, the deposit reserve ratio will be further lowered by 0.25-0.5 percentage points; the 7-day reverse repurchase operating interest rate in the open market will be lowered by 0.2 percentage points; and the medium-term loan facility interest rate will drop 0.3 percentage points. This morning, commercial banks announced a reduction in deposit interest rates. It is expected that the loan market quoted interest rate announced on the 21st will also drop by 0.2-0.25 percentage points.