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 .
China's economy 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 trading practices.