China’s central bank announced on Thursday its decision to reduce the amount of cash that banks are required to hold as reserves for the second time this year. This move aims to ensure sufficient liquidity in the financial system and provide support for the country’s ongoing economic recovery.

The People’s Bank of China (PBOC) stated that it will lower the reserve requirement ratio (RRR) for all banks, except those already following a 5% reserve ratio, by 25 basis points starting from September 15.

This decision comes as China, the world’s second-largest economy, has faced challenges following a slower-than-expected recovery from the pandemic’s impact. To boost economic growth, the government has introduced various policy measures in recent months, including initiatives to stimulate housing demand.

Please note that this is a breaking news story. Stay tuned for further updates.