China's central bank increases relending quota for flood-affected sectors by 100bn yuan ($13.99bn USD).

China's central bank, the People's Bank of China, has increased the relending quota for the agricultural sector and small enterprises in 12 flood-affected provinces by an additional 100 billion yuan (about $13.99 billion USD). The financial support aims to help businesses recover and resume production after recent floods. Financial institutions are encouraged to simplify procedures, expedite approval processes, and meet the funding needs of affected enterprises.

August 13, 2024
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