In the essay, the two professors gave a detailed look at China's targeted policies, which mainly include extending loan terms and rearranged rollover debts for enterprises, tax and fee exemptions, and special loans for micro, small and medium-sized enterprises.

Zhang Xu, a fixed-income analyst at Everbright Securities, said the PBOC has made a full MLF rollover even as market interest rates are relatively low, delivering a clear signal that the central bank is willing to beef up support for the real economy.

The operation included a rollover of MLF funds that are expected to mature Tuesday and on Nov 30, the central bank said.

The central bank's prompt implementation of the liquidity-boosting 50 basis points cut in the reserve requirement ratio announced last week, coupled with a rollover of 100 billion yuan ($15.5 billion) worth of matured medium-term lending facility, or MLF, on Thursday, while leaving key rates unchanged, appear to confirm the People's Bank of China's resolve to maintain a "reasonable" monetary policy stance in favor of the real economy, which could cool expectations of near-term rate cuts, experts said.

"Considering together all of the data released on Thursday, recent developments in international politics and ongoing domestic reforms, the RRR cut and rollover of MLF look more reasonable," said Iris Pang, chief economist in China with ING Bank.

The operation included a rollover of MLF funds that are expected to mature Tuesday, the central bank said.

The operation included a rollover of MLF funds that matured Thursday, the central bank said.

Measures include debt swap programs and non-standard loans, to lower the financing costs and rollover debt.

In addition, the ministry has clarified for the first time that bonds newly issued this year could be used to pay back the principle of expired debt, by a way of a "rollover", to reduce the financing costs of indebted local governments.

Lenders are forced to keep raising short-term funds to rollover their long-term debt, which could lead to a cascade of defaults in a downturn.

As part of the financing, it said the ADB will also administer an additional loan provided by the Clean Technology Fund (CTF), which is a rollover amount from an existing CTF facility for the first phase of the project.