September 2, 2019 / 10:36 AM / 3 months ago

China says no change to lenders' investment in policy bank bonds

FILE PHOTO: A man rides an electric bike past the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China February 14, 2019. REUTERS/Stringer

BEIJING (Reuters) - China’s banking and insurance regulator said on Monday there have been no changes to existing regulations on lenders’ investment in policy bank bonds.

The Banking and Insurance Regulatory Commission (CBIRC) made the comment in statement sent to Reuters.

Reuters reported on Thursday that the regulator has started to restrict lenders’ investment in policy bank bonds, widely seen as an effort to prod lending to the broader economy.

China’s government bonds rallied on Thursday.

Reporting by Cheng Leng, Vincent Lee and Beijing Monitoring Desk; editing by Darren Schuettler

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