PBOC’s LU: The central bank must issue special tax bonds to support the main state banks

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By id9le
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Deputy Governor of the Chinese People’s Bank (PBOC), LU LEI suggested on Thursday that the bank should actively facilitate the raising of funds, including issuing special treasury bonds to support the main state banks in supplementing their joint capital 1 level 1 (CET1).

Additional quotes

Strengthening capital reserves would boost banks’ ability to manage risk and support the real economy.

PBOC should develop reforms in the field of politics and development banking.

Financing directed at the technology and production industries.

Market reaction

These comments have a miniature or no effect on Chinese proxy, Australian dollar (AUD). The couple currently trade at 0.6300.

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