Tuesday, October 20, 2020

China pumped $ 83 billion into the financial system

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
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.

 

 

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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