Caixin
Mar 10, 2022 08:30 PM
FINANCE

Caixin Explains: Why China’s Central Bank Is Handing Over 1 Trillion Yuan to Treasury

China’s central bank building in Beijing. Photo: VCG
China’s central bank building in Beijing. Photo: VCG

Signs of further coordination of China’s fiscal and monetary policy emerged when the country’s central bank announced Tuesday that it will transfer more than 1 trillion yuan ($158 billion) in profit to the finance ministry which the government can use to stimulate the economy.

As the country works toward an economic growth target of around 5.5% for the year, its top leaders have highlighted economic stability as their highest priority and urged greater government spending.

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