China’s Central Bank Cuts Policy Lending Rate in Targeted Growth Push

China’s central bank has cut the interest rate on its pledged supplementary lending (PSL) facility and increased quotas for targeted relending programs to channel more funds into infrastructure, technology and small businesses.

The suite of structural monetary policy adjustments, announced Tuesday following a State Council pledge to roll out practical incremental policies, underscores Beijing’s strategy of directing targeted financing to key sectors to spur economic growth.