December 19, 2018 / 12:42 PM / a month ago

China central bank to boost relending to help small enterprises

HONG KONG, Dec 19 (Reuters) - China’s central bank said on Wednesday it will boost relending and rediscount quotas by 100 billion yuan ($14.50 billion) to help the financing needs of small enterprises, part of measures to strengthen private sector support.

The latest quotas are in addition to another 300 billion yuan that were issued earlier this year, the central bank said on its website www.pbc.gov.cn.

The government has been providing support for small enterprises, a key pillar driving the economy, with the central bank using the medium-term lending facility to channel funds more directly to sectors needing them most. ($1 = 6.8975 yuan) (Reporting by Meg Shen in Hong Kong and Lee Chyen Yee in Singapore; Editing by Nick Macfie)

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