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The People's Bank of China in Beijing, China, April 13, 2022. /CFP
China's central bank and foreign exchange regulator on Tuesday raised a key parameter in its macro-prudential management to allow companies and financial institutions to raise funds from overseas markets.
The macro-prudential adjustment parameter, a multiplier that determines the upper limit of outstanding cross-border financing an institution can have, has been revised to 1.25, up from 1 previously, according to a joint statement by the People's Bank of China and the State Administration of Foreign Exchange.
The upward revision aims to further improve the macro-prudential management of cross-border financing and guide enterprises and financial institutions to optimize their foreign debt structure, the statement added.
(Source: Xinhua with edits)
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