Translation. Region: Russian Federal
Source: People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, May 7 (Xinhua) — The People’s Bank of China (PBOC, the central bank) on Wednesday pledged to step up financial support by refinancing sectors including scientific and technological innovation, service sector consumption and elderly care.
The PBOC will increase its refinancing quota for scientific and technological innovation and upgrading by 300 billion yuan (about 41.7 billion US dollars), thus bringing it to 800 billion yuan, PBOC Governor Pan Gongsheng said at a press conference.
The PBOC will set up a 500 billion yuan refinancing mechanism to support consumption in the service and elderly care sectors to help commercial banks strengthen lending support to the sector, Pan Gongsheng said.
He noted that the PBOC will also increase the refinancing quota by 300 billion yuan to support agriculture and small businesses. -0-