China central bank to push forward relending pilot scheme

[BEIJING] China's central bank said on Monday it will push forward a pilot scheme on relending in a bid to support the country's farming sector and small and micro companies.

The scheme, which allows banks to refinance high quality credit assets rated by the central bank, was first introduced in Guangdong and Shandong provinces in 2014.

The People's Bank of China relent 4.97 billion yuan to 31 institutions from the start of the program through to the end of 2015.

REUTERS