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China Eases Bank Finance Requirement in Effort to Boost Economy

China cut the amount of money its banks must keep in reserve, a move aimed at prodding them to make more loans to boost the country's weakening economy. The People's Bank of China said Wednesday it is dropping the reserve requirement for commercial lenders by half a percentage point, down to 19.5 percent. It trimmed the reserve figure a full percentage point for banks that lend for agriculture and hydroelectric projects favored by Beijing. The reserve cut, the first in...

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