Chi­nese pre­mier pledges ‘liq­uid­ity’ in 2014

The Financial Express - - INTERNATIONAL -

Chi­nese pre­mier Li Ke­qiang has said that the gov­ern­ment will keep liq­uid­ity at an ap­pro­pri­ate level in 2014 to main­tain the sta­bil­ity of fi­nan­cial mar­kets and the broader econ­omy. He made the re­marks dur­ing a re­cent in­spec­tion tour to the north­ern Chi­nese city of Tian­jin, ac­cord­ing to an ac­count pub­lished on the web­site of the State Coun­cil, China’s cab­i­net, late on Sun­day. The com­ments came af­ter cash crunches in China’s money mar­kets in June and De­cem­ber, which many mar­ket ob­servers be­lieve were en­gi­neered by the cen­tral bank, which re­fused to aid the mar­ket with large cash in­jec­tions to help banks cope with cash de­mand at the end of each quar­ter.

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