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[ZoZoStockWatch]

This article will explain it better than I can China Cuts Bank Reserve Ratio to Spur Growth http://nyti.ms/zr5pCA

The cut frees money for lending at a time when the growth rate is expected to drop from last quarter's 8.9 percent to closer to 8 percent.

The cut is the second in two months. The bank had pushed the rate to a record 21.5 percent in June after consumer prices rose by a three-year high of 5.5 percent the previous month.