China ploughs almost US$100 billion into two banks to boost weak economy

Shanghai

CHINA has injected nearly US$100 billion from its foreign exchange reserves into two policy banks, which lend based on government directives, to help spur the country's sluggish economy, state media reported.

The central bank on Tuesday completed putting US$48 billion into the China Development Bank and US$45 billion into the Export-Import Bank of China, the official Xinhua news agency reported.