China adds 300 billion yuan relending to small companies, calls for local government bonds play more role in driving investment

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China will step up relief measures for market players, especially small companies and individual businesses, and ensure cross-cyclical adjustments, Chinese Premier Li Keqiang said at a State Council meeting on Wednesday.

The relending quota for small businesses will be increased by another 300 billion yuan ($46.40 billion) this year and local banks will be supported to step up lending to micro and small companies and self-employed individuals, Li said.

The approach was widely used last year to support pandemic-hit businesses, with 1.8 trillion yuan ($278.5 billion) in cheap capital . . .

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