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CN Govt Work Report Suggests Issuing RMB1.3T Ultra-Long-Term Special Govt Bonds, Cutting RRR & Interest Rates Timely
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The Third Session of the 14th National Committee of the Chinese People's Political Consultative Conference opened this morning (5th) at the Great Hall of the People. When delivering the government work report, Li Qiang, Chinese Premier of the State Council, mentioned the proposal to issue RMB1.3 trillion ultra-long-term special government bonds, marking an increase of RMB300 billion from the previous year. Li also proposed to issue RMB500 billion special government bonds to support capital replenishment for large state-owned commercial banks. In addition, the work report suggested implementing a moderately loose monetary policy, timely reduction of required reserve ratios (RRR) and interest rates, maintaining ample liquidity, and ensuring that the growth of social financing scale and money supply aligns with the expected targets for economic growth and overall price levels. AAStocks Financial News |
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