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Translated by: MOS English team – Zee Li 

On Aug. 26, it was reported that six bank insiders said that the Chinese Communist Party’s (CCP) central bank has recently increased pressure on lenders with new directives to increase lending in the current context of impending plunge in the CCP’s economy. 

According to those resources, in recent months, the CCP’s People’s Bank of China and Banking and Insurance Regulatory Commission have been sending informal messages by phone to commercial, rural and even foreign banks asking them to provide more funds to manufacturing companies and reduce financial investments. This is reportedly the latest in a series of official moves by the CCP to encourage the flow of funds from the financial system to real economy. 

At the same time, public information coming out of the CCP also shows that in the recent intensive mid-year bank meetings, all banks plan to further increase credit investment, focusing on supporting infrastructure, technology innovation, and small businesses. 

Analysts believe that the CCP is the only one who implements such an absurd management style. At the moment its zero-COVID policy prevents people from moving freely, while encourages companies to borrow more loans.

Source: https://gnews.org/post/p1dm77557

Proofread / Edited by: Mr. Potato
Chief Editors: Zee Li
Posted by: Stone

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