Open space for reserve ratio cut and interest rate cut? Ding Shuang: It is expected that the reserve ratio will be reduced by 25 basis points in the first quarter and the interest rate will be reduced by 10 basis points in the second quarter.

Deputy Governor of the People's Bank of China, Zou Lan, stated at a press conference at the State Council Information Office today that from this year's perspective, there is still some room for reserve requirement ratio cuts and interest rate cuts, whether from internal or external constraints. Ding Shuang, Chief Economist for Greater China and North Asia at Standard Chartered Bank, believes that the reserve requirement ratio may be reduced by 25 basis points in the first quarter of this year, followed by a 10 basis point interest rate cut in the second quarter. Considering various factors, the signaling effect of interest rate and reserve requirement ratio cuts may be more important.