4/18, 1:32 PM (Source: TeleTrader)
more TeleTrader news

PBoC lists measures to help economy amid virus

The People's Bank of China and the State Administration of Foreign Exchange unveiled on Monday a package of 23 measures that aim to help the Chinese economy after the coronavirus pandemic returned to the country and caused countrywide lockdowns.

The PBoC will "maintain reasonably sufficient liquidity, and guide financial institutions" to provide more loans and steer lending policy towards supporting small and micro companies, as well as helping agriculture, healthcare and "key consumption areas." Authorities also said they will improve financial services in the housing sector and make moves to "meet the reasonable housing needs of home buyers and promote the stable and healthy development of the local real estate market."

In addition, the PBoC transferred surplus profits of 600 billion yuan ($94.26 billion) to the central government as of mid-April.

Baha Breaking News (BBN) / MS