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China takes more steps to boost banks’ perpetual bonds

Chinese authority are moving further to support commercial banks' perpetual bond issuance to replenish capital, the latest efforts aimed at spurring lending to private companies and supporting a slowing economy.

The People's Bank of China (PBOC) has decided to launch Central Bank Bills Swap (CBS), a tool allowing primary dealers engaged in an open-market operation to swap the perpetual bonds they hold for the central bank bills, to . . .

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