CCB and central bank in talks on liquidity infusion
By Jiang Xueqing | China Daily | Updated: 2014-09-20 08:06
State-owned lender China Construction Bank Corp is in talks with the People's Bank of China, the central bank, for a possible liquidity injection under the standing lending facility of the latter, its Chairman Wang Hongzhang said on Friday.
Rumors began to spread on Tuesday that the central bank would provide funds totaling 500 billion yuan ($81.5 billion) via SLF to five major State-owned commercial banks, including the CCB.
"The 500 billion yuan SLF is part of the prudent monetary policy of the People's Bank of China," Wang said. "It should not be regarded as a change in the direction of the monetary policy or a strong stimulus to the economy.
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