the financial system in china does not do a good job of transmitting policy signals through the rest of the economy, said Mark Williams, chief Asia Economist at capital Economics. the PBOC is leaning on the CDB to"introduce the kind of monetary easing that thay are looking for: he said.
the PBOC has become busier as the year progressed. On top of the liquidity injections, it lowered deposit ratios and cut reloan rates for some designated banks.