Golden Financial News | Banking stocks show strong momentum, shengjingbank (02066) rose by 17.39%, Dongguan Rural Commercial Bank (09889) rose by 4.43%, cbhb (09668) rose by 4.26%, zybank (01216) rose by 3.23%, cm bank (03968) rose by 2.26%, china zheshang bank (02016) rose by 1.9%.

On the news front, the People's Bank of China and two other departments announced a "policy gift package," which alleviated the market's concerns about banks.

Today, the People's Bank of China announced that starting from September 27, 2024, it will reduce the reserve requirement ratio for financial institutions by 0.5 percentage points (excluding financial institutions with an already 5% reserve requirement ratio in place). After this adjustment, the weighted average reserve requirement ratio for financial institutions will be around 6.6%.

Additionally, starting from September 27, the open market 7-day reverse repurchase operation rate will be adjusted from the previous 1.70% to 1.50%. The operation rates for 14-day reverse repurchase and temporary repos in open market operations will continue to be determined based on adding or subtracting points from the 7-day reverse repurchase operation rate, with the range of addition or subtraction points maintained.