Omega Management logo

China Central Bank Urges Lenders to Rev Up Support for Real Economy

China’s central bank urged the nation’s lenders to step up support for the real economy and meet credit demand, as the world’s second largest economy faces increased downward pressure.

In a meeting with 24 financial institutions, the People’s Bank of China and China’s banking regulator urged lenders to “go all out to stabilize the fundamentals of the economy,” the PBOC said in a statement Tuesday.

The PBOC urged banks to fully utilize different policy tools and support “high-quality” economic growth by increasing credit “appropriately”. It also asked banks to keep a steady increase of property loans, after a series of policy-easing recently to save the economy from a prolonged property slump.

The central bank listed sectors–including small business, green development, technology innovation and energy supply–as the key sectors that should receive financial support from banks. It also asked banks to roll…

Read more…

Share on facebook
Share on twitter