China c. bank to boost economy with new policies

People’s Bank of China (PBC) is set to introduce new policies to boost economic growth in the second half of the year and accelerate the implementation of existing measures, according to Governor Pan Gongsheng in an interview with state media CCTV.

Pan mentioned a significant reduction in the number of high-risk small and medium-sized banks in China and a notable decrease in the cost burden of local government debt. Further details on the new policies were not provided.

Attribution: Reuters

Subediting: Y.Yasser