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PBOC launches new tool to boost lending to private firms

The People's Bank of China  on Wednesday rolled out a targeted policy tool to boost lending to small- and micro-sized companies and private firms, in the latest move to support the slowing economy amid a trade dispute with the United States.

The targeted medium-term lending facility (TMLF) will provide “long-term stable source of funding for financial institutions based on growth of their loans for small and private firms”, the central bank said in a statement.

The TMLF will mature in one year but banks will be allowed to roll it over for two more years, the . . .

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