Caixin
Nov 07, 2018 07:49 PM
FINANCE

More Help on the Way for Private Companies, Central Bank Says

People’s Bank of China Governor Yi Gang said the central bank is studying an equity financing support tool for private companies in the government’s latest effort to aid the financing-starved sector. Photo: VCG
People’s Bank of China Governor Yi Gang said the central bank is studying an equity financing support tool for private companies in the government’s latest effort to aid the financing-starved sector. Photo: VCG

* Measure aims to address the risks posed by recent sell-offs in listed company shares, which have been a major source of market volatility

* A wave of takeovers of private business by state-owned enterprises has triggered growing complaints that the sector was being marginalized

As government agencies rush to respond to President Xi Jinping’s call to support the private sector amid a severe cash crunch and the pledged shares crisis, the central bank has unveiled a new funding tool to provide temporary support for companies struggling to find money.

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