10 0

China's central bank said on Wednesday it has increased re-lending and re-discount quota by 500 billion yuan (71.2 billion U.S. dollars) to help medium-sized, small and micro enterprises weather through the epidemic. The re-lending rate for rural areas, agriculture, farmers and smaller businesses will also be lowered by 25 basis points to 2.5 percent, the People's Bank of China (PBOC) said in a videophone conference. Among the 500 billion yuan, 300 billion yuan will be allocated to small firms, 100 billion yuan to agricultural firms, and the re-discount quota will be 100 billion yuan, said the PBOC. The PBOC also said it will offer more funding supports to key industries including travel ... Full story

27 February