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Asia Pacific

China infuses $18.6bn into banking system amid Evergrande crisis | Source: NS Banking

The People’s Bank of China (PBOC) has injected CNY120bn ($18.6bn) into the country’s banking system in an effort to keep the liquidity stable at the end of the quarter amid the ongoing Evergrande crisis. However, some analyst told that will not be sufficient to address the Evergrande crisis. Evergrande, which is a Chinese real estate developer, has a debt of more than $300bn. Last week, the company said that it could default on the debt, sending shockwaves across global markets.

Source: NS Banking


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