China’s Top Central Banker and Finance Minister Vow Support for Economy

Next week the PBOC is forecast to refrain from draining cash via medium term loans for the first time in three months

(Bloomberg) — China will push banks to lend more to some sectors and speed up the rollout of existing economic support policies, the country’s central bank governor and finance minister said.

People’s Bank of China (PBOC) Governor Yi Gang reaffirmed a pledge to “step up the implementation of a prudent monetary policy and provide stronger help to the economy,” in a video speech Thursday at a meeting of the central bank governors of the Group of 20 countries. Yi also said the PBOC will press banks to increase loans related to infrastructure, manufacturing and property.