Equity Market Stabilisation:
An additional 60 billion yuan (US$8.3 billion) from long-term insurance funds will be channelled into equities under an expanded pilot program.
RMB 300 billion in new re-lending funds will be allocated to support technological innovation and industrial upgrades.
The People’s Bank of China (PBOC) will expand the quota for capital market support tools to RMB 800 billion to deepen market-based financing.
Monetary Tools and Interest Rate Adjustments from the People's Bank of China:
A temporary cut in the reserve ratio for auto finance and leasing firms will bring it down from 5% to 0%, aiming to ease sector-specific funding constraints.
The structural monetary policy rate will be reduced by 25 basis points to support targeted credit expansion.
The Standing Lending Facility (SLF) rate will be cut by 10 basis points, further easing interbank lending conditions.
People's Bank of China
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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