(AF) The People’s Bank of China has sunk $14 billion into the Chinese financial system to allay fears that banks won’t be able to provide for companies’ funding needs and also as concern mounted about China Evergrande’s debt problems, Bloomberg reported.
The report said the funding through short-term reverse repurchase agreements was provided because banks are often reluctant to lend as the end of financial quarters approach. The Evergrande saga is also weighing on China’s huge real estate sector, it added. Full report: Bloomberg
Also on AF