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Business

China c.bank raises small banks' relending quota by 50bn yuan

BEIJING: China's central bank said on Wednesday it will increase its relending quota for small and medium-sized banks by

Jul 31 2019

BEIJING: China's central bank said on Wednesday it will increase its relending quota for small and medium-sized banks by 50 billion yuan ($7.27 billion) to boost credit for small and private firms.

The total relending quota under the scheme will be increased to 369.5 billion yuan, the People's Bank of China said in a statement on its website.

The government has been providing more support for small firms as economic growth cools to near 30-year lows.

Copyright Reuters, 2019