China’s central bank took the next step toward selling government bonds to cool a record-breaking rally, saying it now has "hundreds of billions” of yuan of the securities at its disposal through agreements with lenders.
After months of investor speculation about its intentions, the People’s Bank of China disclosed the clearest outline yet of its unprecedented plans in a statement to Bloomberg News on Friday.
It said it has hundreds of billions of yuan worth of medium- and long-term bonds at its disposal to borrow, after signing agreements with several major financial institutions.
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