Tao said the RRR hikes this year significantly reduced PBOC's pressure to raise the interest rate, a move that might have an impact against an overall recovery of the Chinese economy.

Wang, with Guotai Junan, expected the Chinese central bank to raise the RRR again sometime in September or October this year to manage excessive liquidity.

He also maintained the RRR hike this time would have only minor impacts on Chinese banks' earnings, since they currently have excess reserves and the yield gap between one year PBOC note and required requirement reserve is not substantial.

(One U.S. dollar is equivalent to 6.83 Chinese yuan)

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