It judged that for now, expanding its loans to banks and securities dealers, and broadening the collateral it accepts from banks, addresses the crisis better than looser monetary policy would, though it may yet decide further rate cuts are necessary.
On that note, China has restarted about 1.1 million metric tons per year of energy-related second half of 2010 cuts this year, yetit still has around 4.4 million tons annually of idled capacity.