Funding support from the People's Bank of China to the private sector

The People's Bank of China announced that it will increase funding support for the private sector after the private sector meeting. The People's Bank of China announced that it will increase funding support for the private sector after the private sector meeting, which included real estate companies. The bank's new governor Pan Gongsheng listened to representatives of eight companies at the meeting about their financing difficulties. Banking representatives, including ICBC, also attended the meeting. Pan stated in his statement that they will expand the scope of the instrument supporting bond issuances of private sector companies and meet the sensible financing needs of developers for the healthy development of the housing market. CreditSights Senior Analyst Zerlina Zeng reported that the messages given at the meeting reflected the Politburo's dovish stance, but the bank also refrained from announcing new funding support measures other than the current ones. Zhang Zhiwei, Chief Economist at Pinpoint Asset Management, also said that it was unclear whether new measures would be taken after this meeting. Zhang commented, "Sectors under stress, especially real estate, need more financial assistance."