<p>Pan Gongsheng announced a 0.5 percentage point reduction in the reserve requirement ratio, a 0.1 percentage point decrease in the policy interest rate, and a 0.25 percentage point reduction in the housing provident fund interest rate. The interest rate for the first home loan with a term of more than 5 years has been lowered from 2.85% to 2.6%, and the interest rates for other terms have been adjusted accordingly</p>

- At a press conference, the People's Bank of China announced a 0.5% reduction in the reserve requirement ratio and a 0.1% cut in policy interest rates to support market stability.  
- The Financial Regulatory Administration plans to introduce policies to aid small and private enterprises, while the China Securities Regulatory Commission emphasized confidence in the stability of the stock market despite external challenges.  
- These measures aim to enhance liquidity, support economic recovery, and ensure the healthy development of China's financial markets.

Wallstreetcn

Major press conference: Reserve requirement ratio cut and interest rate reduction are here!