China’s move to pump a record amount of cash into the economy coincided with renewed support for the property sector, sending a more powerful stimulus message to investors after piecemeal approaches had left them disheartened.
The central bank handed commercial lenders $112 billion of one-year loans on Friday, helping to allay concerns over cash scarcity amid a surge in government debt issuance. That came on the heels of a relaxation of home buying curbs in Beijing and Shanghai, an extension of policy efforts to stem an unprecedented housing downturn.
