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Chinas Central Bank Discloses Targeted Lending Plan to Aid Growth

Chinas central bank said it will decrease amount of cash lenders, must hold as reserves from coming year, with the size of the cut linked to the flow of funding to parts of the economy where credit is scarce.

The targeted measures apply to all major banks, 90 percent of city commercial banks, and 95 percent of rural commercial lenders, the Peoples Bank of China said in a statement on October 30th.

Foreign banks will also be eligible for the cut, should they meet the requirements.