In the News: PBOC Easing Policy; P2P Consolidation; and Property Tax Delay

China's central bank likely to ease finance policy further

The People's Bank of China, or PBOC, is expected to further ease policy to help maintain economic growth as trade tensions with the United States escalate. The trade disputes have already depressed new lending in April, analysts say. And the PBOC is expected to provide more support for the banking industry. After a record first quarter in bank lending, the failure to reach any near term resolution over U.S.-China trade tariffs, has resulted in more modest lending in April, with only Rmb1.02 trillion, or $150.16 billion, in net new renminbi loans made. The central bank has already said it will cut reserve requirement ratios for some small and medium-sized banks, but analysts anticipate more will need to be done to bolster confidence and stabilize growth in the event that trade tensions escalate; and to shore up stock prices, which have made a sharp dive recently.