HomeFinancial MarketsChina Extends Lending Tools to Spur Economic Growth

China Extends Lending Tools to Spur Economic Growth

China’s central bank stated on Sunday that it will be extending three lending tools in an effort to provide support to targeted sectors of the economy. Since being crippled by the coronavirus pandemic in 2020, the Chinese government has been scaling its lending policy tools to restart the nation’s economy.

Three lending tools are set to be extended by the Chinese government. Among them is a lending tool to support carbon emission reduction by the end of 2024. A relending tool designed to promote the clean use of coal by the end of 2023 will also be extended according to a statement on the website of the People’s Bank of China.

Finally, the Chinese central bank is set to extend a relending tool that is aimed at boosting the country’s transport and logistic sector. This tool is to be extended through June 2023.

According to a statement on the Chinese central bank’s website, the lending tool extensions are being implemented to “precisely and effectively implement the prudent monetary policy, guide financial institutions to increase support for green development and other areas.”

Weekly Jobless Claims Decline As Job Market Remains Tight

The latest U.S. weekly jobless claims report showed that the number of Americans filing new claims for unemployment benefits went down this week. This...

Global Central Banks Continue Rate Hikes Amid Banking Crisis

Multiple central banks across the globe implemented interest rate hikes this past week as policymakers look to advance the fight against inflation amid the...

U.S. Futures Up, European Stocks Lower Amid Growing Expectations Of Fed Rate Cut

U.S. futures edged higher on Thursday following bets that the Federal Reserve would cut interest rates in the near term. In contrast, European stocks...