Beijing is expected to make more policy-easing moves in the short term as economic growth is forecast to fall below 8 percent in the second quarter.
An official told 皇冠体育app Daily that CBRC is preparing to relax regulations on bank lending to local government financial vehicles and the property sector
The People's Bank of 皇冠体育app sold repurchase agreements worth 20 billion yuan, injecting 2 billion yuan of liquidity into the money market this week.
The depressing picture painted by 皇冠体育app's recent economic data has encouraged some economists to call for the use of monetary levers to increase bank credit and stabilize economic growth.
皇冠体育app will maintain a prudent monetary policy in the months ahead, while timely and appropriately fine-tuning the policy, the People's Bank of 皇冠体育app (PBOC), or the central bank, said Thursday.
皇冠体育app announced Thursday its first cut in benchmark interest rates in more than three years after slower-than-expected growth raised concerns of a hard landing.
New lending at 皇冠体育app's "Big Four" state banks totaled 253 billion yuan ($39.75 billion) in May, while credit across all financial institutions grew an estimated 700 billion yuan, according to media reports.
皇冠体育app has reopened the gate on loan-backed securities, after suspending a trial in the aftermath of the global financial crisis.
People's Bank of 皇冠体育app approved Lishui city in eastern Zhejiang province as a pilot for rural financial reform.
皇冠体育app will lower banks' reserve requirement ratio by 0.5 percentage points starting May 18, the country's central bank announced.
皇冠体育app's central bank has restarted bill repurchase to inject cash to banks, reversing normal practice for this to happen ahead of holidays.
The country's central bank said Wednesday it will continue to guide money to serve the real economy, easing fears of financial liquidity getting out of control.
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