China cenbank relaxes offshore borrowing rules amid yuan weakness

SHANGHAI, Jan 13 (Reuters) - China's central bank said on Monday that it raised a parameter on cross-border corporate financing under its macro-prudential assessments (MPA) to 1.75 from 1.5, effective on the same day.

The move comes as the yuan currency hovers around 16-month lows.

The ratio dictates the maximum any company can borrow as a proportion of its net assets.

The People's Bank of China issued that statement jointly with the country's foreign exchange regulator.

(Reporting by Shanghai Newsroom; Editing by Kim Coghill)