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MNI BRIEF: PBOC to Extend SME Loan Deferment Program 2021

The People's Bank of China will extend its support program allowing small-and-medium firms to delay repaying loan principal and interest, said Chen Yulu, a deputy governor of PBOC said Wednesday on the sidelines of National People's Congress.

MNI previously reported the program may extend throughout 2021 after the State Council said the government would uphold the program in Q1. Chen didn't offer an exit date on Wednesday.

Large national banks are required to increase their loans to small firms by 30% this year, lower than the growth of more than 50% in 2020.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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