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China's Leadership Vows to Address Financial Concerns, Inject Liquidity as Interest Rates Surge

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Updated Nov 2, 2023, 05:07 PM

China's top leadership, including President Xi Jinping, vowed to enhance regulation and address concerns in the financial system, including local government debt risks and the property slump. The People's Bank of China will inject liquidity into the money market after interest rates surged. The central bank also withdrew cash from the financial system, indicating that the surge in borrowing costs was temporary. Local Chinese governments are rushing to plan infrastructure projects to take advantage of new sovereign debt issuance. China's local government financing vehicles are increasingly offering to redeem their bonds before maturity to lower financing costs and sustain investor interest.

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Caixin Global

@caixin

Opinion: China’s twice-a-decade Central Financial Work Conference took place this week in Beijing, where officials discussed the country’s priorities for the financial sphere over the next five years. Here are five topics from the meeting to focus on. https://t.co/00zv6j1YjR

Reuters China

@ReutersChina

China regulators probe liquidity stress that sent rates to record 50% - sources https://t.co/CrveTS9Xiz

Reuters

@Reuters

China regulators probe liquidity stress that sent rates to record 50% - sources https://t.co/MujJHGsqe5 https://t.co/zlOMqHEuIf

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1 year ago•Latest version

China's Leadership Vows to Address Financial Concerns, Inject Liquidity as Interest Rates Surge

1 year ago•Original version

China's President Xi Jinping Vows to Enhance Financial Regulation and Address Property Loan Concerns

China's Leadership Vows to Address Financial Concerns, Inject Liquidity as Interest Rates Surge

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