China's cabinet: We will make further targeted RRR cuts to medium and small banks - State media

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31 March 2020

China's cabinet: We will make further targeted RRR cuts to medium and small banks - State media

We will increase 1 trillion yuan of re-lending and re-discount quotas for medium and small banks
We will issue more local government special bonds
We will extend subsidies for new energy vehicle (NEV) purchase, exemption from NEV purchase tax for two years

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European session review: GBP weakens against USD but strengthens against most other major rivals

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