China raises important parameter to facilitate cross-border financing

The macro-prudential adjustment parameter, a multiplier that decides the upper limit of outstanding cross-border financing available to an institution, was revised from 1.5 to 1.75, according to a joint statement issued by the People's Bank of China and the State Administration of Foreign Exchange.

The revision aims at guiding enterprises and financial institutions to optimise their asset-liability structure, a state-controlled media outlet reported.

The country will also continue implementing its special campaign to stimulate consumption, actively expand imports and attract foreign investment this year, a national commerce work conference in Beijing was told.

It will boost efforts to implement the consumer goods trade-in programme and more diversified consumption scenarios will be created.

To attract foreign investment, China will expand voluntary and unilateral opening up in an orderly manner, give full play to the role of national economic development zones in attracting foreign investment, and improve services for foreign enterprises.

Further efforts will be made to proactively align with high-standard international economic and trade rules, promote international cooperation in industrial chains and supply chains, and deepen Silk Road e-commerce cooperation.

ALCHEMPro News Desk (DS)