BEIJING, Oct 23 (Reuters) - China’s central bank plans to give 10 billion yuan ($1.44 billion) to bond guarantee firm China Bond Insurance to provide credit support for debt issuances by private firms, Bloomberg reported, citing people familiar with the situation.
The Chinese government said on Monday that China will roll out more policies to support private companies, including measures to help them raise funds in capital markets.
The People’s Bank of China (PBOC) will provide initial funding to institutions that can help enhance the credit profile of private companies that are operating normally but face temporary liquidity difficulties, said the State Council, or cabinet, in a statement.
The State Council did not give details.
The PBOC has yet to respond to a faxed request for comment. ($1 = 6.9407 Chinese yuan) (Reporting by Ryan Woo)