I posted earlier on another reform step from the People's Bank of China, likely to make borrowing cheaper for business:
- China - PBOC to announce new reference rate for bank loans, to lower borrowing costs to firms
- China interest rate liberalisation announced- one step closer to free-floating yuan
Reuters and Bloomberg both have more info if you'd like it, worth a read as the change is quite significant and should be an ongoing boost in China.
- China's central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy
- If successful, the revamp can stimulate demand for new credit and aid growth in the world's second-largest economy
