You are here

China central bank gives banks more cash to lend to farmers, small businesses

pboblg12.jpg
China's central bank will increase its relending quota, by which it lends funds to banks at low rates to give them more cash they can lend out to customers, by 50 billion yuan, it said on Friday.

[BEIJING] China's central bank will increase its relending quota, by which it lends funds to banks at low rates to give them more cash they can lend out to customers, by 50 billion yuan, it said on Friday.

The funds are intended to support lending to rural areas and for small businesses, the People's Bank of China (PBOC) said in a statement on its website. It added that the increase in the relending quotas would also help reduce funding costs for companies, which is one of the policy aims it has articulated for this year.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom