PBOC vows funding support to sovereign fund to stabilise market
(April 8): China’s central bank said it will provide support to a sovereign fund when needed as it firmly supports its decision to buy more stocks.
The People’s Bank of China will step up funding aid via a re-lending program to Central Huijin Investment Ltd when it’s necessary, in order to safeguard the stability of capital markets, it said in a statement Tuesday.
China’s state-backed funds including Central Huijin earlier announced plans to buy local stocks in a bid to support the market hurt by US tariffs.
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