MNI BRIEF: PBOC Urges Banks To Boost Credit Support

Chinese banks should increase financial support to key areas including green development, technological innovation, energy supply and water conservancy projects, and support high-quality economic development with moderate credit growth in the face of renewed downward pressure, according to a statement on the People’s Bank of China website.

Banks should maintain the steady growth of real estate loans and allow the deferred principal and interest repayment of loans to small businesses, truck drivers, and individual house mortgages and consumer loans severely affected by the epidemic, the statement said. It is necessary to accelerate the issuance of loans already approved and balance the relationship between moderate credit growth and prevention of financial risks, the statement added.