Comments from PBOC Governor Yi Gang
China has room to cut banks required reserves but it's much smaller than previously, according to PBOC leader Yi Gang.
"At China's current stage of development, a certain level of reserve-requirement ratios is necessary and appropriate," he said, adding that the central bank is in the process of simplifying the RRR framework and making it more transparent via three-tiers for small, medium and large banks.
Yi reiterated previous comments to keep credit growth in-line with GDP growth and to better support small firms.
