On December 6, Li Daxiao, chief economist of Yingda Securities, said that Chinese Min Bank cut its deposit reserves by 0.5%, which can be described as a timely rain. The main purpose is to reduce the cost of funds for financial institutions, support the development of the real economy, release long-term funds of 1.2 trillion yuan, maintain reasonable and sufficient liquidity, and strengthen cross-cycle adjustment. It plays an important role in stabilizing economic growth and alleviating some industries with tight funds, and can play a hedging or partial hedging of the adverse impact of the US stock bubble burst on A shares in the short term.
Source: Weibo