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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, February 14 (Xinhua) — The People's Bank of China (PBOC, the central bank) and three other government agencies have issued guidelines for establishing a regular financial support mechanism. This initiative aims to prevent a relapse into poverty and promote comprehensive rural revitalization, the PBOC announced on Saturday.
The guidelines set out a series of financial measures jointly issued by the PBOC, the State Administration of Financial Regulation, the China Securities Regulatory Commission and the Ministry of Agriculture and Rural Affairs.
In particular, the principles call for improving the long-term development-oriented financial assistance mechanism for key populations, as well as optimizing microcredit programs for people emerging from poverty and rural households, with the aim of providing regular support to prevent rural residents from falling back into poverty.
The document proposes increasing the allocation of financial resources to key areas to improve financial services in grain and edible oil production. It calls for increased medium- and long-term funding for rural infrastructure development to support the integrated development of agriculture, culture, and tourism.
The guidelines also call for encouraging financial institutions, especially in underdeveloped areas, to issue special bonds for small and micro enterprises and agriculture-related sectors. -0-
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