The headline hit a few minutes ago: PBOC academic says RRR cut won't add liquidity to stock market

It was from a PBOC training school professor writing in Shanghai Securities News

More detail now (via Bloomberg):

  • The prof. is Wang Yong, at the PBOC's Zhengzhou training school
  • Chinese stock market investors should understand that the Chinese central bank won't cut the reserve requirement ratio solely to add liquidity to stock market
  • Says funds released into the system from a RRR cut might not flow to the stock market
  • Capital markets can't rely on support policies as a market rescue might be more difficult than ever before