PBOC steps to bolster liquidity

Major measures include forming more financing channels for offshore lenders

The People's Bank of China, the central bank, has taken measures to bolster liquidity in the offshore yuan market by setting up more financing channels for offshore lenders participating in yuan-denominated businesses and initiating steps to improve cross-border capital flows.

A series of new measures were issued on the central bank's website on Friday, allowing overseas yuan clearing banks and participating banks to tap liquidity from the onshore market by raising funds through interbank borrowings, cross-border account financing and interbank bond repurchases.