China New Policies to Ensure Stable Credit, Ample Liquidity: Times

China has this month intensified signals for a pro-growth focus in the next four months, with increased cross-cycle adjustment measures to ensure a prelude to next year's reasonable growth, the Securities Times said in a front-page report. The PBOC has disclosed that it has made expanding credit the primary objective for the next four months, the official securities newspaper said. The cost of capital is expected to be low given ample monetary supply, the newspaper said. Credit expansion will stabilize after a slowdown in July, and aggregate financing is expected to rebound, it said.