China ICYMI – A PBOC official says banks should step up lending to private companies

From Wednesday afternoon China time, comments from a People’s Bank of China official urging banks to step up lending to private companies.

• PBOC will ask financial institutions to set annual targets for services to private firms and vigorously expand loans to companies that are borrowing for the first time.

The official, Ma Jianyang, deputy head of the financial market department at the People’s Bank of China, was meeting with financial regulators, corporations and lenders.

Reuters cited a piece in China’s PBOC-backed newspaper Securities Times.

It’s a big data day coming up from China:

• Economic calendar in Asia 31 August 2023 – China August PMIs (any green shoots?)

This article was written by Eamonn Sheridan at www.forexlive.com. Source