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China to encourage lending to small firms, central bank says

China's central bank said on Monday it would use re-lending, re-discount tools to guide financial institutions to lend more to small firms.

China to encourage lending to small firms, central bank says

China mourns for coronavirus (COVID-19) victims on Qingming tomb sweeping festival

BEIJING: China's central bank said on Monday it would use re-lending, re-discount tools to guide financial institutions to lend more to small firms.

China would encourage small and medium-sized banks to issue special bonds for financing small firms, the central bank said in a statement on its website.

China would increase its tolerance for non-performing loans for small businesses, the central bank said.

(Reporting by Stella Qiu and Kevin Yao; Editing by Edmund Blair)

Source: Reuters

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