PBOC to buy 400 billion yuan bank loans granted to small companies

 

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The People's Bank of China said it will start buying bank loans extended to micro-sized businesses from qualified local lenders, in a move to spur banks to lend as much as 1 trillion yuan ($140.2 billion) to small businesses amid the coronavirus outbreak.

The move comes after Chinese Premier Li Keqiang pledged in his 2020 government work report to use innovative monetary policy tools to directly stimulate the real economy.

The PBOC will use 400 billion yuan under a special re-lending quota to purchase the loans. Banks need to buy back . . .

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