The central bank announced again an interest rate cut to further implement its moderately loose monetary policy. On December 22, the central bank announced that starting December 23, the benchmark interest rates for one - year RMB deposit and loan would be cut by 0.27 percentage points respectively, and the benchmark interest rates for deposit and loan of other tenors would be adjusted accordingly. Meanwhile, the rediscount rate and relending rate of the central bank would be cut. Starting December 25, the RMB reserve requirement ratio for financial institutions would be cut by 0.5 percentage point