China to Boost Financial Support Across Important Areas

MT Newswires Live

Aug 13

China will increase financial support across key areas by growing domestic demand, expanding technological innovation, and supporting micro and small enterprises, the People's Bank of China (PBOC) said in its second quarter monetary policy report released Wednesday.

The central bank will also introduce structural monetary policy tools and enhance financing structure by promoting the low operation of social financing costs.

The growth rate of loans to the science and technology, green and inclusive finance, elderly care, and digital economy segments exceeded the growth rate of total loans as of the end of June, the PBOC said.

PBOC will also conduct overnight reverse repo operations on Aug. 14 and from Aug. 17 to 19, with the daily amount caped at 600 billion yuan.

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