June 10, 2014 / 8:35 AM / 4 years ago

China c.bank vows to step up policy fine-tuning

BEIJING, June 10 (Reuters) - China’s central bank will increase the strength and frequency of policy fine-tuning to lend more support to the country’s rural sector and small firms, the official Xinhua news agency said on Tuesday, citing an unidentified official from the central bank.

The central bank also repeated that China’s overall liquidity condition is ample and it will use various monetary policy tools to provide future liquidity support for small firms.

It also pledged to further expand a credit asset securitisation programme to increase the efficiency of capital that is being used, according to a Xinhua report.

The central bank said on Monday it would cut the level of deposits that banks have to keep with it by 50 basis points for some lenders, a move aimed at freeing up more cash for loans to bolster flagging economic growth. (Reporting by China Economics Team; Editing by Kim Coghill)

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