PBoC steps up funding for development projects
Central bank injects 150 billion yuan amid slew of government measures to bolster property sector
The People’s Bank of China (PBoC) last month provided 150 billion yuan ($21 billion) of low-cost funds to support development projects in urban areas.
The central bank provided the funds through its pledged supplementary lending (PSL) facility to China’s “policy banks” – state-owned lenders that promote government objectives.
The outstanding amount of PSL loans was 3.4 trillion yuan at the end of January, according to a central bank statement released on February 1.
The latest injection came as the
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