Four Things to Know About Chinese Policy Banks’ Extra $120 Billion for Infrastructure
As downward pressure on China’s economy intensifies, the government is enlisting policy banks into an infrastructure investment drive that it hopes will buoy growth.
An 800 billion yuan ($120 billion) increase in policy banks’ lending quota to support infrastructure investment was announced at the June 1 executive meeting of the State Council, China’s cabinet. The meeting, chaired by Premier Li Keqiang, also urged officials to speed up the implementation of a stimulus package announced previously.
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