BEIJING -- The People's Bank of China (PBoC) announced Wednesday it will add 20 billion yuan ($3.26 billion) to re-lending quotas for financial institutions to support spring plowing in the world's most populous country.
The PBoC, the country's central bank, aims to use the re-lending policy to encourage commercial banks and financial institutions to extend credit during the sowing season.
In the last year, the PBoC has increased the agricultural re-lending quota to 238.9 billion yuan, over 90 percent of which went to western regions and main producing areas.
By the end of 2013, outstanding agricultural loans from rural financial institutions nationwide had amounted to 6.2 trillion yuan, up 16.4 percent year on year.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
