The People’s Bank of China is stepping up liquidity support for domestic businesses and increasing its monitoring of cross-border capital flows amid concerns over Washington’s massive new fiscal stimulus plan. Photo: Bloomberg
American Rescue Plan: China moves to counter ‘turmoil in financial markets’ as policy divergence widens with US
- Beijing and Washington are moving in opposite directions in their attempts to support their respective economies
- Chinese officials and policy advisers have been highly critical of US President Joe Biden’s new US$1.9 trillion American Rescue Plan
The People’s Bank of China is stepping up liquidity support for domestic businesses and increasing its monitoring of cross-border capital flows amid concerns over Washington’s massive new fiscal stimulus plan. Photo: Bloomberg
