China central bank pledges more policy support as bank lending slides

A security guard covers his mouth as he yawns while standing guard outside the headquarters of the Bank of China in the financial district of Beijing - Reuters file pic

BEIJING: China’s central bank has pledged to further support the slowing economy by spurring loans and lowering borrowing costs, following data that showed a sharp drop in February’s bank lending due to seasonal factors.

The central bank is widely expected to ease monetary policy further this year to encourage lending especially to small and private firms vital for growth and job creation.