China's central bank sets up a 500bn yuan relending facility at 1.75% interest for tech-focused SMEs and key sectors.
China's central bank establishes a 500 billion yuan ($70.47 billion) relending facility to support scientific and technological innovation, technical transformation, and equipment renewal. The one-year facility has an interest rate of 1.75%, which can be extended twice for a one-year term each. The initiative aims to guide financial institutions to enhance credit support for technology-focused small and medium-sized enterprises and projects in key sectors, promoting digitalization, smart technology, and sustainability.
April 07, 2024
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