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China Hikes Credit Quota For Policy Banks To Boost Investment

CHINA PRESS
MNI (Singapore)

China will increase financial support to boost infrastructure construction by adding a CNY800 billion credit quota for policy banks and matching funds with key projects, according to a statement on the government website citing a State Council executive meeting late Wednesday. The meeting chaired by Premier Li said that the newly added quota of CNY140 billion in tax rebates should be basically refunded by end-July, according to the statement. The State Council also urged officials to help unemployed migrant workers, and people whose jobs and income have been affected by the epidemic, the statement said.

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