Localities across the country will be asked to bring forward the issuance of these bonds and endeavor to get the job done before the end of the second quarter of this year.
"It is essential to make well-calibrated arrangements in advance to keep the projects under construction going, and launch some new projects in light of real needs," Li said.
The meeting adopted stronger measures to offer inclusive financial support to micro, small and medium-sized enterprises. Since the start of this year, the People's Bank of China has allocated a 300 billion yuan (about 43 billion U.S. dollars) special re-lending quota, which has so far supported more than 7,000 key enterprises involved in the outbreak response. Another 500 billion yuan of re-lending and re-discount quota is now supporting an increasing number of micro, small and medium-sized firms to get loans at rates below 4.55 percent for their business re-opening.
"Smaller businesses have been hit the hardest by the outbreak. Their restart of operation affects the entire industrial chain and is vitally important for keeping employment stable. The government must promptly roll out support measures that benefit them all," Li said.
It was decided at the meeting that for small and medium-sized banks, re-lending and re-discount quota will be increased by one trillion yuan. Targeted cuts in the required reserve ratio will be further implemented to encourage these banks to funnel all the newly-obtained funding in the form of loans at concessional rates to micro, small and medium-sized enterprises, who are great in number and cover many sectors. The agricultural and foreign trade sectors and sectors heavily affected by the outbreak will get greater loan support.
【国内英语资讯:China to roll out a mix of fiscal and financial policies to vigorously meet challenges】相关文章:
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