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MNI Policy: PBOC Shanghai Plans More Funding for Private Firms

     BEIJING (MNI) - The Shanghai branch of the People's Bank of China said it
will continue to use all tools to support private and innovation businesses,
including quickening the launch of the first batch of tools supporting private
companies issuing bonds.
     The central bank branch has also accelerated the approval process of
refinancing and rediscount funds, and directed local banks to boost credits in
science and technology, and advanced manufacturing sector, according to a
statement on its website on Tuesday.
     The PBOC branch said it will add another CNY3.55 billion of rediscount
funds for leading private companies in November.
     On Tuesday, PBOC Tianjin branch also announced that it will arrange no less
than CNY5 billion refinancing funds and CNY5 billion rediscount funds to
increase credits for private and small companies.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: MMQPB$,M$A$$$,M$Q$$$]

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