The People’s Bank of China will launch a 100 billion yuan ($15 billion) loan facility:
- to support the transport, logistics and storage sectors
“Monetary policy should coordinate with fiscal and industrial policies to jointly boost market participants’ confidence, stimulate market drivers, support the real economy and achieve the goal of stable growth,” the bank said. .
On Wednesday last week, the PBOC announced similar support for the coal industry:
- the Bank has increased the targeted lending quota by another 100 billion yuan to promote the development of clean energy
Information via state media China Global Television Network (CGTN.com)
This PBOC tool will further incentivize financial institutions to increase lending at lower funding costs.
PBOC Governor Yi Gang: