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Which govt should deserve to get the better pay? CCP or PAP?
PAP warned of financial risk and potential crisis just weeks ago.
This is PRC's signal, they let their banks relax on reserves.
http://news.xinhuanet.com/photo/2011-11/30/c_122358878.htm
央行近3年来首次下调存款准备金率
2011年11月30日 20:16:07 | 责任编辑: 李清 | 来源：新华网 [新华网图片频道RSS要闻汇总] [查看原图] [复制URL到MSN或QQ好友] [打印]
（经济）中国人民银行决定下调金融机构人民币存款准备金率
这是中国人民银行总部大楼（11月7日摄）。 11月30日，中国人民银行决定从2011年12月5日起，下调存款类金融机构人民币存款准备金率0.5个百分点。 新华社记者 刘金海 摄
新华社北京11月30日电（记者王宇、王培伟）中国人民银行11月30日晚间宣布，从2011年12月5日起，下调存款类金融机构人民币存款准备金率0.5个百分点。
此次下调距离央行上次上调存款准备金率不到半年时间，也是央行三年来首次下调存款准备金率。央行上次下调存款准备金率是在2008年12月。之后从2010 年1月起，央行连续12次上调存款准备金率，通过对金融机构准备金率共计600个基点的上调，来回收市场过多流动性以抑制物价的过快上涨。
此次调整后，我国大型金融机构存款准备金率为21%，中小型金融机构存款准备金率为17.5%。
经济学家认为，准备金率的下调，有助于在当前复杂形势下稳定国内经济增长。
“在这样一个外需不稳，国内经济增速放缓、通胀压力趋弱的关键节点上，央行通过下调准备金率传递出稳增长的信号，这是央行货币政策微调的进一步体现。”亚洲开发银行中国代表处高级经济学家庄健说。（完）
http://www.reuters.com/article/2011/11/30/us-china-economy-view-idUSTRE7AT0W020111130
Instant view: China cuts banks' required reserves
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BEIJING | Wed Nov 30, 2011 7:27am EST
(Reuters) - China's central bank cut the reserve requirement ratio for its banks on Wednesday by 50 basis points for the first time in nearly three years to ease credit strains and shore up activity in the world's second-largest economy.
LIU JUNYU, BOND AND MONEY MARKET ANALYST AT CHINA MERCHANTS BANK IN SHENZHEN:
"The RRR cut is mainly due to the negative growth of China's foreign exchange purchase positions, which means the PBOC is unable to expand its monetary base by injecting money by purchasing foreign exchange.
"Now that the PBOC has started making RRR cuts, the market will expect it to keep doing so in the future. So the market will become quite optimistic about an easing of monetary policy, although an interest rate cut is not expected to occur until at least the first quarter.
"Bond yields will fall amid the optimism, although money market rates will drop more slowly since those rates are affected by money supply, which needs time to pick up despite the RRR cut."
ZHIWEI ZHANG, CHINA ECONOMIST AT NOMURA IN HONG KONG:
"I think the move is partially driven by capital outflows in November. Also, it may indicate that the economy has weakened quite bit and that the official PMI reading does not look very good."
SHI CHENYU, ECONOMIST WITH THE INVESTMENT BANKING UNIT OF INDUSTRIAL AND COMMERCIAL BANK OF CHINA:
"It's a surprising move -- the market was not expecting the central bank to (cut RRR) so fast.
"The move sends a clear message that the central bank is ready to relax its policy stance. The rare capital outflow in October may become a frequent thing next year, and the decision-makers have to adjust to these changes."
HUA ZHONGWEI, ANALYST WITH HUACHUANG SECURITIES IN BEIJING:
"It's the start of a relaxation cycle, and the central bank is expected to take more steps.
"The economic slowdown is there, and capital inflows are set to fall further, and many banks are finding liquidity shortages.
"However, I still don't think China will cut benchmark interest rates in the coming months because that would mark a fundamental change rather than a fine-tuning."
(Reporting by China newsroom; Editing by Don Durfee)
China
PAP warned of financial risk and potential crisis just weeks ago.
This is PRC's signal, they let their banks relax on reserves.
http://news.xinhuanet.com/photo/2011-11/30/c_122358878.htm
央行近3年来首次下调存款准备金率
2011年11月30日 20:16:07 | 责任编辑: 李清 | 来源：新华网 [新华网图片频道RSS要闻汇总] [查看原图] [复制URL到MSN或QQ好友] [打印]
（经济）中国人民银行决定下调金融机构人民币存款准备金率
这是中国人民银行总部大楼（11月7日摄）。 11月30日，中国人民银行决定从2011年12月5日起，下调存款类金融机构人民币存款准备金率0.5个百分点。 新华社记者 刘金海 摄
新华社北京11月30日电（记者王宇、王培伟）中国人民银行11月30日晚间宣布，从2011年12月5日起，下调存款类金融机构人民币存款准备金率0.5个百分点。
此次下调距离央行上次上调存款准备金率不到半年时间，也是央行三年来首次下调存款准备金率。央行上次下调存款准备金率是在2008年12月。之后从2010 年1月起，央行连续12次上调存款准备金率，通过对金融机构准备金率共计600个基点的上调，来回收市场过多流动性以抑制物价的过快上涨。
此次调整后，我国大型金融机构存款准备金率为21%，中小型金融机构存款准备金率为17.5%。
经济学家认为，准备金率的下调，有助于在当前复杂形势下稳定国内经济增长。
“在这样一个外需不稳，国内经济增速放缓、通胀压力趋弱的关键节点上，央行通过下调准备金率传递出稳增长的信号，这是央行货币政策微调的进一步体现。”亚洲开发银行中国代表处高级经济学家庄健说。（完）
http://www.reuters.com/article/2011/11/30/us-china-economy-view-idUSTRE7AT0W020111130
Instant view: China cuts banks' required reserves
Tweet
Share this
Related News
Global stocks rise, dollar slips after global bank move
9:54am EST
WRAPUP 5-Italy borrowing cost soars as euro pressure mounts
Tue, Nov 29 2011
China factory sector shrinks most in 32 months
Wed, Nov 23 2011
U.S. stocks off for fifth day; euro up on IMF move
Tue, Nov 22 2011
Fed officials warm to communications changes
Tue, Nov 22 2011
Analysis & Opinion
Mr. Fine Suit visits Europe
The cost of kleptocracy
Related Topics
China »
BEIJING | Wed Nov 30, 2011 7:27am EST
(Reuters) - China's central bank cut the reserve requirement ratio for its banks on Wednesday by 50 basis points for the first time in nearly three years to ease credit strains and shore up activity in the world's second-largest economy.
LIU JUNYU, BOND AND MONEY MARKET ANALYST AT CHINA MERCHANTS BANK IN SHENZHEN:
"The RRR cut is mainly due to the negative growth of China's foreign exchange purchase positions, which means the PBOC is unable to expand its monetary base by injecting money by purchasing foreign exchange.
"Now that the PBOC has started making RRR cuts, the market will expect it to keep doing so in the future. So the market will become quite optimistic about an easing of monetary policy, although an interest rate cut is not expected to occur until at least the first quarter.
"Bond yields will fall amid the optimism, although money market rates will drop more slowly since those rates are affected by money supply, which needs time to pick up despite the RRR cut."
ZHIWEI ZHANG, CHINA ECONOMIST AT NOMURA IN HONG KONG:
"I think the move is partially driven by capital outflows in November. Also, it may indicate that the economy has weakened quite bit and that the official PMI reading does not look very good."
SHI CHENYU, ECONOMIST WITH THE INVESTMENT BANKING UNIT OF INDUSTRIAL AND COMMERCIAL BANK OF CHINA:
"It's a surprising move -- the market was not expecting the central bank to (cut RRR) so fast.
"The move sends a clear message that the central bank is ready to relax its policy stance. The rare capital outflow in October may become a frequent thing next year, and the decision-makers have to adjust to these changes."
HUA ZHONGWEI, ANALYST WITH HUACHUANG SECURITIES IN BEIJING:
"It's the start of a relaxation cycle, and the central bank is expected to take more steps.
"The economic slowdown is there, and capital inflows are set to fall further, and many banks are finding liquidity shortages.
"However, I still don't think China will cut benchmark interest rates in the coming months because that would mark a fundamental change rather than a fine-tuning."
(Reporting by China newsroom; Editing by Don Durfee)
China
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