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China Extends Re-loans To Support Disaster Relief

CHINA PRESS

China’s central bank has increased its re-loan quota for supporting agricultural and small businesses by CNY100 billion across 12 provinces to support extreme weather prevention and reconstruction, Yicai reports. Authorities will offer a one-year re-loan rate at 1.75%, significantly lower than the one-year medium-term lending facility’s 2.3%, Yicai noted. Wang Qing, chief macro-analyst at Golden Credit Rating International, said the measure would add to positive growth of total credit in the third quarter.

MNI Beijing Bureau | lewis.porylo@marketnews.com

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