Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Aug. 20 (Xinhua) — The People's Bank of China (PBOC) has increased its refinancing quota for agriculture and small businesses by 100 billion yuan (about 14.01 billion U.S. dollars) to support flood control and disaster recovery, the PBOC said Tuesday.
The measure is aimed at encouraging financial institutions to strengthen credit support for businesses, especially micro and small enterprises and individual entrepreneurs, as well as agricultural and livestock enterprises and farmers in disaster-hit areas including Beijing and the provinces of Hebei, Jilin, Shandong and Gansu, the country's top financial regulator said.
The central bank has urged its local branches to make full use of the new re-lending quota, it said. It will also guide financial institutions to meet the financing needs of flood control and disaster relief, and support businesses in accelerating the resumption of operations and production. -0-
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