China'S Central Bank Once Again Relaxed And Increased 20 Billion Yuan To Support Agriculture And Refinance.

The people's Bank of China announced on Wednesday (August 27th) that it will increase the amount of support for agriculture and other loans by some branches, which will be 20 billion yuan.

The central bank official said the move was aimed at implementing the request of the executive meeting of the State Council in July 23rd to increase the intensity of supporting agriculture, supporting small loans and rediscount, and improving the ability of financial services such as "three rural issues" and other weak links in the national economy.

The central bank called for the implementation of preferential interest rates for supporting agriculture and refinancing, and the interest rate for supporting rural refinancing of eligible rural financial institutions could also be reduced by 1 percentage points on the basis of preferential interest rates. The interest rate on loans for agriculture related loans issued by rural financial institutions should be lower than that of other financial institutions in the same period.

In addition, the central bank also asked

During the period of borrowing loans for supporting agriculture, financial institutions should increase the amount of loans related to agriculture, not less than the total amount of loans to support agriculture.

The central bank has also stepped up its interest in supporting agriculture and reinvesting loans and loans related to agriculture.

We must ensure that the loans for supporting agriculture will play a role in reducing the financing cost of the three rural issues.

Prior to this, the central bank announced on August 8th part of the sub

The increase of rediscount amount of 12 billion yuan is all used to support financial institutions to expand the "three rural" and small and micro enterprises credit.