Ann: Company presentation, page-159

China Central Bank yesterday already (only) dropped 5 years LPR from 4.20 to 3.95 , didn't even touch the 1 year LPR, it is not what we call in Australia "cut interest rate", here's the difference

Lowering the reserve requirement ratio - it only releases the margin of commercial banks with the central bank, increases the supply of market funds, and is conducive to stimulating the production process; cutting interest rates - does not increase the amount of market funds, but can change the direction of capital investment. It has two main functions: it not only reduces the return on central bank deposits, forcing funds to enter markets outside banks and increases transaction activity, but also reduces the cost of loans and improves the competitiveness of products. The so-called interest rate cut refers to banks using interest rate adjustments to change cash flows.
that for only beneficiaries are real estate industry, people who bought homes,


Beijing, January 24 (Reporter Wu Yurenjun) The People's Bank of China announced on the 24th that it has decided to lower the deposit reserve ratio of financial institutions by 0.5 percentage points from February 5, 2024; The interest rates for re-loans to support agriculture, re-loans to support small businesses and re-discount rates are each 0.25 percentage points.

that was significant, it released more money on the market for all business