China vows to drain cash from financial system-Reuters

From Reuters:

China’s central bank vowed on Thursday to step up its efforts to drain cash from the banking system, leaving less money for banks to lend for factories and property as strong data showed investment accelerating again.

“We will remove fuel from the fire, so that they do not have the money to lend,” deputy central bank governor Wu Xiaoling was quoted as saying in state media.

With data showing renewed strength in lending, retailing, industrial output, exports and investment, central bank governor Zhou Xiaochuan followed cabinet demands for action by saying the institution would sell more short-term securities to banks, drawing away money they might otherwise lend.

[Full text]

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.