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China unveils new moves to lift economy

Central bank to lend 50b yuan to banks at discounted rates as FDI growth slips to lowest since 2012

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Published Fri, Jan 16, 2015 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Beijing

    CHINA announced fresh support measures on Friday for its slowing economy after data showed a worrying drop in bank lending and foreign investment growth falling to a two-year low.

    The central bank said that it would lend 50 billion yuan (S$10.68 billion) to banks at discounted rates to allow them to re-lend the money to farmers and small businesses - areas of the economy that are usually short of cash.

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