China Policy Bank Provides $100 Billion in Liquidity Since May
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Agricultural Development Bank of China has provided 615.7 billion yuan ($100 billion) in liquidity to the markets since late May, signaling efforts from the nation’s largest lenders to ease a cash crunch.
The funds were distributed mainly through overnight money market transactions and used to help institutions overcome liquidity shortages, the bank said in a statement on its website yesterday. The capital was provided to members of its bond underwriting syndicate, the lender said. Syndicate members include Industrial & Commercial Bank of China Ltd., China Construction Bank Corp. and Bank of China Ltd., according to the Chinese government bond clearing house website.