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              Central Bank Boosts Financing for Coronavirus-Hit Businesses

              2020年06月03日 21:37 来源于 财新网
              PBOC to supply up to $62 billion of liquidity to regional banks for lending to micro and small companies
              The People’s Bank of China has unveiled two innovative monetary tools to aid small businesses.

              China’s central bank is stepping up efforts to help small companies weather the fallout from the coronavirus pandemic as part of a broader government strategy to support the economy and protect jobs.

              The People’s Bank of China (PBOC) and the Ministry of Finance have set up a special purpose vehicle (SPV) to channel as much as 440 billion yuan ($62 billion) of funds to regional banks so that they can provide new loans or roll over maturing loans to small businesses, including those impacted by the Covid-19 outbreak, Deputy Governor Pan Gongsheng said (link in Chinese) at a briefing on Tuesday to explain what the central bank described as two “new monetary policy tools” announced the previous day.

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