Posted 2/5/2024, 12:32:00 AM
Chinese Traders Less Concerned About Lunar New Year Cash Crunch Due to Ample Funding
- Chinese traders less worried about cash squeeze around Lunar New Year holiday due to ample bank funding
- Central bank to inject $139 billion into system on Monday to support economy and reduce holiday cash crunch
- Funding gap over holiday estimated at $21 billion, smaller than past years and unlikely to spur rate hikes
- Chinese expected to give less cash gifts this year amid economic gloom and stock market losses
- Policymakers aim to keep conditions loose to support credit, but wary of fueling financial risks