The Traderszone Network

Published in TZ Latest News 17 September, 2014 by The TZ Newswire Staff

China cenbank injects $81 billion into major banks to support economy: reports

China’s central bank is injecting a combined 500 billion yuan ($81.35 billion) of liquidity into the country’s top banks, according to media reports, a sign that authorities are stepping up efforts to shore up a faltering economy. The Wall Street Journal, citing an unnamed Chinese bank executive, said the People’s Bank of China (PBOC) is pumping in 100 billion yuan each into China’s top five banks via standard lending facility in the form of 3-month loans.

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