PBOC allows state lenders to grant low-rate special loans to more companies amid epidemic

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Chinese central bank has allowed state-owned lenders to grant low-rate loans to more companies through a special re-lending scheme, in a move to step up support to companies hard hit by the coronavirus outbreak and those involved in fighting the epidemic.

The People’s Bank of China (PBOC) has asked the largest banks in the country to grant low-rate loans to companies shortlisted by 10 provincial-level governments, using funds from a 300 billion yuan special re-lending program launched on Feb. 7 to support companies involved in counter the epidemic, according to . . .

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