China urges swift implementation of expansive financial policies

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2024.10.17 21:28

BEIJING/SHANGHAI (Reuters) – China’s central bank and financial regulators have held meetings with key financial institutions, urging them to swiftly implement expansive policies to support the economy and the capital markets.

The People’s Bank of China (PBOC) said in a statement on its website on Friday that it urged participants to boost credit support for the real economy, and maintain reasonable growth in the total amount of money and credit.

© Reuters. FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee//File Photo

It also urged solid implementation of interest rate adjustments, as well as two funding schemes created to support the stock market.

China’s banking and securities regulators also chaired the meeting, and participants included banks, brokerages and fund companies.

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