China’s Central Bank Adds $21 Billion in Cheap Housing Funds

(Bloomberg) — The People’s Bank of China (PBOC) provided 150 billion yuan ($20.9 billion) worth of low-cost funds for lending to housing and infrastructure projects last month, stepping up support for the economy.

The outstanding amount of the PBOC’s Pledged Supplemental Lending program to policy-oriented banks reached 3.4 trillion yuan at the end of January, according to a central bank statement Thursday.