China Provides $81.4 Billion to Five Banks, Sina Says

China is providing 500 billion yuan ($81.4 billion) of liquidity to the country’s five biggest banks as Premier Li Keqiang steps up stimulus to support economic growth.

The People’s Bank of China yesterday started providing the banks with 100 billion yuan each through standing lending-facilities with tenor of three months.

The PBOC will complete the process today,

Read more: “This is like ‘printing money’ as base money is created”