China’s central bank structural policy tools rise to $952 billion
6:26 am Wednesday, July 19th, 2023
BEIJING (Reuters) – China’s outstanding structural policy tools totalled 6.87 trillion yuan ($952.14 billion) at the end of June, the central bank said on Wednesday, up 0.7% from 6.82 trillion yuan at the end of March.
The central bank has in recent years expanded its arsenal of structural policy tools, including relending and rediscount facilities and other low-cost loans.
A senior central bank official said last week that the bank will use policy tools such as the reserve requirement ratio (RRR) for banks and its medium-term lending facility to weather the challenges facing the world’s second-largest economy.
Data this week reinforced views that China’s post-COVID recovery is faltering rapidly, raising pressure on policymakers to deliver more stimulus to shore up activity.
($1 = 7.2153 Chinese yuan renminbi)
(Reporting by Beijing newsroom; Editing by Andrew Heavens and Kim Coghill)
