China's Central Bank Expands PSL Support to Include Computing Power Networks and Other 'Six Networks', Drawing Policy Finance Backing; Bosera STAR 100 ETF (588030) Attracts Over RMB 25 Million in Two Days
Summary
The People's Bank of China has widened the scope of its Pledged Supplementary Lending (PSL) facility to cover the construction of computing power networks and other 'six networks', channeling more state-backed policy finance into computing infrastructure. Meanwhile, the Bosera STAR 100 ETF saw over RMB 25 million in net inflows over two consecutive days, reflecting investor interest in tech-related assets.
Bubble analysis
This news shows China is using a policy finance tool (PSL) to fund computing infrastructure, a state-directed investment rather than market-driven speculation. It mainly reflects policy guidance for AI compute investment and is only indirectly related to the question of whether AI is in an investment bubble—policy funding may boost compute supply, but by itself it is not evidence of a bubble.
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