Chi­nese Cen­tral Bank Says New Mon­e­tary Pol­icy Tools Are not a Form of Quan­ti­ta­tive Eas­ing

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Un­der the Sup­port Plan PBOC will pur­chase up to 40% of the fi­nan­cial in­clu­sion MSE loans made by re­gional le­gal per­son banks dur­ing the pe­riod from 1 March to 31 De­cem­ber 2020, which are ex­pected to to­tal around 40 bil­lion yuan.
At a press con­fer­ence held on 2 June Pan Gong­sheng (潘功胜), deputy PBOC-gov­er­nor and head of the State Ad­min­is­tra­tion of For­eign Ex­change (SAFE), said that the “loan ex­ten­sion sup­port tool” and the “credit loan sup­port plan” were short-term poli­cies for sup­port­ing the re­sump­tion of work and pro­duc­tion by Chi­nese en­ter­prises in the wake of the COVID-19 out­break.

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