economy - Cooling down effort no. X

In a new effort the central bank, the People's Bank of China, has increased on Friday the reserve requirements 0.5 percent for banks in a desparete effort to take capital out of its overheated markets, write many media.
When banks comply with the new regulations bij August 15 as required, it might take the equivalent of 16-17 billion euro out of the market, experts estimate. In July the bank made a similar move and more tightening of the capital market is expected later this year.
The economy grew in the second quarter of this year with a record 10.3 percent.