March 15, 2020 / 8:24 AM / 16 days ago

China issued 184 bln yuan in cheap relending quota as of March 13 - PBOC

BEIJING, March 15 (Reuters) - China’s central bank said on Sunday it had issued 184 billion yuan ($26 billion) in cheap relending quota as of March 13 to support firms including those making equipment needed to control the coronavirus epidemic.

Sun Guofeng, head of the monetary policy department at the People’s Bank of China, also told a press briefing that local banks had issued another 107.5 billion yuan in loans at favourable rates to small firms and agricultural companies.

The bank will continue to use multiple measures to lead to significantly reduced loan interest rates, he added. ($1 = 7.0036 Chinese yuan) (Reporting by Roxanne Liu, Leng Cheng and Dominique Patton; Editing by Himani Sarkar)

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