PBOC To Help Expand Credit, Boost Investment - Journal

The People’s Bank of China is expected to further promote credit expansion with structural tools and increase the quota of policy bank-backed financial instruments to boost investment, China Securities Journal reported citing analysts. The PBOC may launch re-lending program to support the consumption of new energy vehicles, or provide discounts on the interest rate of re-lending program for technological innovation, the newspaper said citing Zhong Zhengsheng, chief economist of Ping An Securities. Another key focus of monetary policy is to help accelerate investment with supporting finance. As of October, a total CNY740 billion of policy bank-backed financial instruments were issued and there could be additional quotas announced, the newspaper said citing Ming Ming, chief economist at CITIC Securities.