China to cut RRRs, interest rates in light of economic, financial conditions in 2025

BEIJING, March 6 (Xinhua) -- China will cut reserve requirement ratios (RRRs) and interest rates when appropriate this year in line with domestic and international economic and financial conditions as well as the performance of financial markets, the country's central bank governor said Thursday.

The average RRR for China's financial institutions now stands at 6.6 percent, and there is still room for further reduction, Pan Gongsheng, governor of the People's Bank of China, said at a press conference on the sidelines of the third session of the 14th National People's Congress.