CASS researcher says China should cut RRR for long-term time deposits

Yin Jianfeng, a researcher at the Chinese Academy of Social Sciences (CASS), writes in the Shanghai Securities News that China should cut RRR for long-term time deposits

–

Headline via Bloomberg

–

Added:

• Said the government should reform the required reserve ratio system as it distorts monetary policy goals and blocks exchange rate reform and has become less transparent
• Suggests the government lower or even remove the required reserve ratio for medium- to long-term term deposits, & implement different reserve ratios based on the terms of corporate and individual deposits