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BEIJING (Reuters) – China will step up monetary policy easing and keep liquidity “reasonably ample”, the state cabinet said in a meeting chaired by premier Li Keqiang on Wednesday, as it looks to support the economy and help small and medium-sized firms.
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The cabinet indicated the Chinese government will keep liquidity ample through cutting the required reserved ratio (RRR) – the amount of cash banks are required hold – and re-lending, while guiding market interest rates lower, state broadcaster CCTV reported.
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The government will ensure that China\\\’s issuance of new yuan-denominated loans and total social financing in 2020 exceed the amount last year, the report added.
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(Reporting by Lusha Zhang, Colin Qian and Kevin Yao; Writing by Yawen Chen; Editing by Andrew Heavens)
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