Perpetual bond policy will be fine-tuned to aid banking sector

China's central bank will further improve its policy on perpetual bonds, with the first issued by a commercial bank last month to supplement capital and the banking sector's capability to support the real economy, bank Vice-Governor Pan Gongsheng said on Tuesday.

Pan, who aside from his role with the People's Bank of China is the head of the State Administration of Foreign Exchange, made the statement at a policy briefing hosted by the State Council Information Office on Tuesday.

The briefing came after a State Council executive meeting on Feb 11, presided over by Premier Li Keqiang, which decided to raise the efficiency in approving perpetual bonds and lower the threshold for preferred stocks and convertible bonds.