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PBOC injects cheap funds using long-term lending tool

Policymakers are relying on reductions in borrowing costs to stimulate investment and demand for homes.

Hong Kong

CHINA is pressing ahead with its own version of Operation Twist as a surge in municipal debt issuance swamps the bond market, driving up long-term yields.

The People's Bank of China (PBOC) added cheap funds to the banking system recently using a long-term lending tool,

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