Tuesday, January 25, 2022

China pumped $ 83 billion into the financial system


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com
China’s central bank has pumped on Wednesday a record amount of the equivalent of nearly $ 83 billion in the financial sector. In view of the cooling economy, liquidity problems with banks should be prevented.

The central bank said that the measures were intended to ensure that there were substantial financing possibilities for the economy. Because the liquidity of the banking industry is deteriorating.

Recent economic data has alarmed the Beijing government. Measures to stimulate the economy have already been announced, such as tax cuts for smaller companies and industrial companies.

The background of the weak data is also the trade dispute with the United States, which is increasingly affecting. In December, Chinese exports shrank by 4.4 percent year-on-year, the highest rate in two years.

Economists said that the economy needs help.” Although the authorities in the People’s Republic of China are constantly pushing banks to lend more, they are often reluctant to do so.



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