China's central bank said Friday it will cut the amount of cash that banks must hold as reserves from Dec. 5 in a bid to ease credit and shore up the economy that has been slowing amid the nation's strict "zero-COVID" policy. The 0.25 percentage point reduction of the reserve requirement ratio to 7.8 percent by the People's Bank of China will pump about 500 billion yuan ($69.7 billion) of liquidity into the economy. It will be the second cut this year following the 0.25-point reduction in April. The measure is aimed at keeping liquidity reasonably ample and lowering comprehensive financing cos...
