PBoC cut the mortgage-supplementary lending rate (PSL) by 25bps, lowering the one-year PSL rate to 1.50% (prev. 1.75%)

The central bank said the reduction aims to better incentivize policy banks to support the real economy and national strategic priorities. To include construction of six networks — water networks, new-type power grids, computing power networks, next‑generation communications networks, urban underground pipe networks and logistics networks — and will guide policy banks to step up financing for these projects to help expand effective investment and deepen domestic demand. Raises the re-lending quota for tech innovation and technological transformation by CNH 200bln to CNH 1.4tln and increases the facility's support ratio from 60% to 100%, aiming to steer banks to expand lending to SME tech firms and to support corporate equipment upgrades.