China central bank pledges 'dynamic adjustment' of RRR policies

China will adopt "dynamic adjustment" of targeted reserve requirement ratio (RRR) cut policies in the near future for better use of inclusive financing to shore up the virus-hit economy, an official from the central bank said on Feb 24.

The People's Bank of China (PBOC) will also step up the utilization of structural monetary policy tools and enable the country's three policy banks to better play their roles, said Chen Yulu, deputy governor of the PBOC.

"Currently, China's monetary policy space and policy tools remain sufficient," Chen stressed.