China again cuts reserve ratio as economy slows              

Beijing : China will lower banks’ reserve requirement ratio (RRR) by one percentage point for a second time this year in a bid to increase funding for private sector investment to spur growth as the world’s second largest economy continued to slow down. China’s GDP growth slowed to 7 percent in the first quarter from 7.3 percent in the final three months of last year, marking the worst result in six years and indicating continuing downward pressure on the economy.