October 22, 2018 / 1:11 PM / 9 months ago

China central bank to boost relending and rediscount quotas for small firms

BEIJING, Oct 22 (Reuters) - China’s central bank said on Monday it will boost relending and rediscount quotas by 150 billion yuan ($21.6 billion) to help the financing needs of small enterprises, as part of the government’s measures to strengthen private sector support.

This is in addition to another 150 billion yuan worth of similar quotas that were issued in June.

The People’s Bank of China will also provide guidelines for corporate bond issues, the bank said on its website www.pbc.gov.cn.

Earlier on Monday, the State Council, or China’s cabinet, unveiled plans such as easing the tax burden and implementing a list to limit foreign investments by end-March to help the private sector, a key pillar of China’s economy. ($1 = 6.9411 Chinese yuan renminbi) (Reporting by Zhang Min in Beijing and Lee Chyen Yee in Singapore)

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