PBOC announces measures to help exporters

Beijing – The People’s Bank of China has promised a broad range of policy measures aimed at supporting the country’s exporters, Reuters reported, citing a Wednesday announcement by the central bank.

The currency and credit measures unveiled include cheaper loans and more tools designed to reduce foreign exchange risks to help exporters combat sluggish sales. The export sector is a pivotal employer in the country but has seen average monthly growth fall by two-thirds since 2007.

This is the second time in two months that China has given a hand to its struggling exporters. Source: China Economic Review