The plan will use 400 billion yuan (US$56bil) from a separate programme to buy 40% of unsecured loans to small and medium-sized firms with maturities of at least six months made between March 1 and Dec 31,2020, the People’s Bank of China (PBoC) (pic) said.
BEIJING: China’s central bank said it will temporarily purchase loans made to small businesses from some local banks, a new policy to boost the supply of lending to the real economy.
The plan will use 400 billion yuan (US$56bil) from a separate programme to buy 40% of unsecured loans to small and medium-sized firms with maturities of at least six months made between March 1 and Dec 31,2020, the People’s Bank of China (PBoC) said on Monday.
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