China 's banks will see an extra $ 110bn available for lending as a result of the government - announced cut to the amount that commercial banks must put aside at the People 's Bank of China , effective as of 15 October . Published: 1:00pm, In a move designed to guard Chinese finances against the trade war with the US , the lowering of the reserve requirement will provide extra liquidity , self - reliance and scope for more growth in China 's $ 12tn economy . US Vice President Mike Pence stated that China 's stock market dropped 25 % from Q1 to Q3 as a result of the US 's strong opposition to China 's financial practices .
China 's banks will see an extra $ 110bn available for lending as a result of the government - announced cut to the amount that commercial banks must put aside at the People 's Bank of China , effective as of 15 October . In a move designed to guard Chinese finances against the trade war with the US , the lowering of the reserve requirement will provide extra liquidity , self - reliance and scope for more growth in China 's $ 12tn economy . US Vice President Mike Pence stated that China 's stock market dropped 25 % from Q1 to Q3 as a result of the US 's strong opposition to China 's financial practices .