May 6, 2020 / 9:23 AM / a month ago

PBOC Shanghai says it will help commercial banks to issue bonds

SHANGHAI, May 6 (Reuters) - China central bank’s Shanghai office said it will help commercial banks in the municipality issue more tier-2 capital bonds and perpetual bonds to replenish their capital, as part of efforts to boost the economy after months of lockdown.

In an online statement, the Shanghai headquarters of the People’s Bank of China (PBOC) said on Wednesday it would encourage financial institutions to step up lending to key sectors including integrated circuit makers, bio-pharmaceutical and artificial intelligence. (Reporting by the Beijing Monitoring Desk, Editing by Andrew Heavens)

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