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CHINA PRESS: PBOC's Shrinking Asset Scale Does Not Mean Tightening - Analysts

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

The shrinking scale of the People’s Bank of China’s assets demonstrates innovative monetary policy tools such as treasury trades and outright repos replacing traditional tools and not monetary tightening, China Securities Journal reported citing analysts. After the central bank released a large amount of liquidity by reducing the reserve requirement ratio, authorities will drain funds through its medium-term lending facility, while banks repay debts such as high interest MLF loans, the newspaper said citing Wang Jian, analyst at Guosen Securities. The total assets of PBOC were CNY44.1 trillion by end-2024, a decrease of about CNY1.6 trillion from end-2023.

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The shrinking scale of the People’s Bank of China’s assets demonstrates innovative monetary policy tools such as treasury trades and outright repos replacing traditional tools and not monetary tightening, China Securities Journal reported citing analysts. After the central bank released a large amount of liquidity by reducing the reserve requirement ratio, authorities will drain funds through its medium-term lending facility, while banks repay debts such as high interest MLF loans, the newspaper said citing Wang Jian, analyst at Guosen Securities. The total assets of PBOC were CNY44.1 trillion by end-2024, a decrease of about CNY1.6 trillion from end-2023.