PBoC to roll over lending tools to spur growth

Reuters reported that the People's Bank of China will roll over a lending tool for supporting carbon emission reduction to the end of 2024, The PBoC will also extend a re-lending tool for promoting the clean use of coal to the end of 2023. 

''The move to extend the lending tools will help "precisely and effectively implement the prudent monetary policy, guide financial institutions to increase support for green development and other areas", the central bank said.

''Since 2020, when the world's second-largest economy was first jolted by the coronavirus, the central bank has expanded its arsenal of structural policy tools, including re-lending and rediscount facilities and other low-cost loans.''

''he central bank is poised to ramp up targeted support for troubled sectors through its structural policy tools, according to policy sources and analysts.''