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China central bank to
boost relending to help small enterprises
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[December 19, 2018]
HONG KONG (Reuters) -
China's central bank said on Wednesday it will boost
relending and rediscount quotas by 100 billion yuan
($14.50 billion) to help the financing needs of small
enterprises, part of measures to strengthen private
sector support. |
People walk past the headquarters of the People's Bank
of China (PBOC), the central bank, in Beijing, China
September 28, 2018. REUTERS/Jason Lee |
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The latest quotas are in addition to another 300 billion yuan
that were issued earlier this year, the central bank said on its
website http://www.pbc.gov.cn.
The government has been providing support for small enterprises,
a key pillar driving the economy, with the central bank using
the medium-term lending facility to channel funds more directly
to sectors needing them most.
(Reporting by Meg Shen in Hong Kong and Lee Chyen Yee in
Singapore; Editing by Nick Macfie)
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