LINE

    Text:AAAPrint
    Economy

    Central bank sets up anti-poverty relending

    1
    2016-03-26 08:41Xinhua Editor: Feng Shuang

    The central bank on Friday announced it will set up an anti-poverty relending program to pump funds into local financial organizations.

    The program will target local rural banks in poor counties, providing low-cost loans that can be used for up to five years, said a statement on the website of the People's Bank of China.

    The move followed a guideline issued on Wednesday by the central bank and six other government agencies.

    The guideline said banking financial institutions are encouraged to increase credit support for poverty relief programs through relending, in which the central bank extends loans to commercial banks on the condition that they in turn lend to businesses in required sectors.

    The tolerance for non-performing loans (NPL) in poverty-stricken areas can be raised, as poverty relief programs need more credit support, said the guideline.

    The government has named poverty reduction as one of its top priorities for the next five years. It has vowed to help the remaining 70 million people living below the poverty line of 2,300 yuan (353 U.S. dollars) in annual income rid themselves of poverty and access essential social services by 2020.

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 探索| 金溪县| 绥滨县| 安溪县| 阿荣旗| 乐清市| 基隆市| 磐安县| 阳原县| 来宾市| 班戈县| 通化市| 长丰县| 张家港市| 株洲市| 平乡县| 体育| 仁寿县| 谢通门县| 桐梓县| 诸城市| 邯郸县| 峡江县| 吉木萨尔县| 凭祥市| 清流县| 那曲县| 石首市| 东光县| 余庆县| 崇礼县| 日土县| 大兴区| 常宁市| 清涧县| 昔阳县| 高唐县| 蕉岭县| 重庆市| 北京市| 苍南县|