Announcement is most recent effort to inject life into covid lockdown-hammered economic growth.

Local governments will need to issue another $210bn in special bonds this month if they want to meet the cabinet's half-year goal

China's Central Commission for Discipline Inspection is investigating PBOC former head of monetary policy Sun Guofeng.

People's Bank of China governor Yi Gang said China's financial market is not immune to external shock and the pandemic has also applied more pressure

Financial support should be also prioritised to key sectors including freight logistics and consumption, the People's Bank of China said in a statement

Traders and analysts expect lending rates will be lowered this week for China's commercial banks to aid an economy hit by Covid lockdowns

Growth in the world's second-largest economy has slowed since early 2021 as traditional engines of the economy such as real estate and consumption have faltered