The move is aimed at maintaining market order and at preventing banks from offering excessively low interest rates to lure borrowers.
The fresh funding comprises ¥300bn in re-lending quotas for small firms, ¥100bn for agriculture, and ¥100bn in re-discounting quotas, to help mitigate the economic impact of Covid-19.
Companies in Shanghai, Zhejiang and Shenzhen have submitted applications to set up local asset managers to deal with bad loans, particularly those from P2P lending platforms.
The new law, set to take effect on Sunday, establishes the legal basis for the adoption of a registration-based IPO system across the entire A-share market.
The PBOC has instructed six state-owned banks to provide low-interest loans to a broader pool of companies than originally specified under a special re-lending programme earlier this month.
China's relaxed bad loan recognition standards to help businesses through the Covid-19 outbreak may have long-term repercussions for the creditworthiness of some institutions.
The domestic treasury bond futures market was closed in 1995 following a panic sell-off and the collapse of China's largest brokerage at the time.
The PBOC pledged to help companies by lowering lending rates, increasing credit support, and ensure banking system liquidity through RRR cuts and MLF loans.
Beijing will likely require asset owners play a bigger role in ESG investing as part of broader sustainability plans when it announces its five-year plan later this year, according to KPMG.
The draft rules seek to standardise the instrument and improve its utility as a financing channel for SMEs, while also setting out supervisory measures and applicable rights to protect investors.
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