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PBOC issues notice to strengthen financial support for private companies
The People’s Bank of China (PBOC) issued a notice on Monday to strengthen financial support for private companies.
Additional takeaways
To encourage institutional investors to actively and scientifically allocate private companies bonds.
Support private enterprises in listing and financing, mergers and acquisitions, and restructuring.
To use monetary policy tools, fiscal subsidies to incentivize financial institutions to service private companies.
Encourage lenders to not to cut or suspend loans for private companies facing temporary difficulties but have competitive technologies.
To reasonably meet the financing needs of private property companies.
Market reaction
Risk sentiment remains in a weak spot in Asia at the start of the week on Monday, despite China’s stimulus push and upbeat Industrial Profits data. At the time of writing, AUD/USD is trading 0.12% lower on the day at 0.6572.
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