Over the past couple of weeks, Yi has cut key lending rates, announced special loans to struggling property developers via policy banks, and urged state-owned lenders to extend more credit. Meantime, speculation of a cut to reserve requirement ratios grows. Li Daokui, a former adviser to the People’s Bank of China and currently a professor at Tsinghua University in Beijing, says more stimulus will be needed if covid and the restrictions to contain its spread continue to weigh on the economy.
“Right now, monetary policy should do everything possible to avoid the financing chain in the housing market from breaking,” he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: