PBOC to hand in 1 trillion yuan profits to central government this year to stabilize economic growth
FEATURES POLICY & REGULATION
PBOC to hand in 1 trillion yuan profits to central government this year to stabilize economic growth
FEATURES POLICY & REGULATION

PBOC to hand in 1 trillion yuan profits to central government this year to stabilize economic growth

 

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The Chinese central bank is set to hand in more than 1 trillion yuan ($158.3 billion) of its profits to the central government this year, in a move to help alleviate local governments' pressures from falling fiscal revenues and to stabilize the economic growth.

The profits mostly come from the central bank's proceeds from its foreign-exchange reserves operations, which won't add to tax burdens and aren't tantamount to fiscal deficits . . .

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