China’s comprehensive purchasing managers’ index (PMI) came in at 50.9 in January, up from 50.3 in the previous month, indicating an overall stabilization in manufacturing and service activities, data from the National Bureau of Statistics (NBS) showed on Wednesday.
China injects $140b into market, in major policy package to boost economy en.people.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.people.cn Daily Mail and Mail on Sunday newspapers.
China’s central bank on Monday added 995 billion yuan ($138.84 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions, but kept the policy rate unchanged. Although it was beyond market expectations, analysts said reserve requirement ratio (RRR) and interest rate cuts and other structural tools remain in the central bank’s toolkit to ensure a sustained economic recovery in 2024.
The People’s Bank of China (PBC), the country’s central bank, resumed its pledged supplementary lending (PSL) facility in December 2023 and injected 350 billion yuan ($49 billion) of liquidity into three policy banks.