China’s central bank on April 19 cut the required reserve ratio for banks by 1 percentage point to stimulate lending into a slowing economy. The lower reserve requirement allows banks to lend out a higher proportion of their deposits. The Communist Party-run People’s Daily said the cut will release 1.2 trillion yuan ($194 billion) into the world’s second-biggest economy. Official data showed last week that China’s economy grew by 7 percent in the first quarter of the year, the lowest quarterly expansion since the 2008 financial crisis.

-- AP on April 20