China took action to boost bank lending as it seeks to fine-tune economic policy to support growth, without giving up its recent gains in controlling inflation and property prices. The People's Bank of China said on Saturday that it will cut banks' reserve requirement ratio by 0.5ppt, effective Feb. 24, in a move to help boost liquidity and support the economy. The reserve requirement ratio is the percentage of deposits that banks must hold in reserve rather than lend out. The ratio for most large banks will decline to 20.5% after the cut. (Wall Street Journal)