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China unleashes stimulus blitz to lift growth

Financial Times LogoFinancial Times5d ago

China unleashes stimulus blitz to lift growth - Financial Times

Quick Summary:

The PBoC will also provide Rmb300bn to help companies conduct share buybacks.“A fresh stimulus push is certainly positive,” said Liu Chang, macro economist at BNP Paribas Asset Management.

In a rare public briefing on Tuesday, the People’s Bank of China also announced government funding to boost the stock market and aid share buybacks, as well as more support for the stricken property sector.

The central bank head was joined by Li Yunze, director of the new financial sector watchdog, the National Financial Regulatory Administration, and Wu Qing, chair of the markets supervisor, the China Securities Regulatory Commission.


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Article Details

Author / Journalist: Arjun Neil Alim

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-24 @ 05:59:09 (5 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 872 words

Reading Time: 5 minutes read

Sentences: 35 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 22693107

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About Financial Times

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 1 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 19 hours ago

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Publisher ID: #3

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