Posted 1/2/2024, 9:58:55 AM
China Boosts Infrastructure Funding by $50 Billion to Shore Up Growth
- The People's Bank of China injected $50 billion into policy banks in December
- The funding is expected to support housing and infrastructure projects to stimulate economy
- This was the largest monthly increase in funding via PBOC's Pledged Supplemental Lending program
- Markets expect the funding to help shore up property sector and stabilize growth
- The program controversially used from 2014-2019 to rebuild shantytowns, halted property slump but increased home prices