China still has room for RRR reductions: central bank

A Chinese central bank official said Thursday that the country had ample monetary policy space and options, and there was still room for further reserve requirement ratio (RRR) cuts.

The central bank will work to ensure the liquidity at a reasonable and ample level, while pushing for a steady decline in enterprises' financing costs and residents' loan costs, Xuan Changneng, deputy head of the People's Bank of China, told a press conference.

Xuan said the central bank will also strive to maintain the general stability of the yuan exchange rate at an adaptive and balanced level.