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China c.bank urges more support for contact-intensive service sector

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It stated that financial support should be prioritised to key sectors including freight logistics and consumption.

Financial support should be also prioritised to key sectors including freight logistics and consumption, the People's Bank of China said in a statement issued on Wednesday, following a meeting attended by top finance regulatory officials a day earlier.

The PBOC said on Friday it would cut the amount of cash that banks must hold as reserves for the first time this year, releasing about 530 billion yuan in long-term liquidity to bolster slowing economic growth, effective from April 25.

Source: Insurance Report (insurancereport.net)

 

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