PBOC Extends Relending Tools For Key Sectors

The People’s Bank of China will extend three relending policy tools in a bid to provide cheap funding for key sectors, the central bank said in a statement on Sunday. The bank will roll over the tool targeting carbon emissions reduction until the end of 2024, include some local and foreign financial institutions in the project, and enhance international cooperation in green finance, it said. The tool for clean-coal use will be extended to the end of 2023. China will push the green transition of its economy while ensuring security of energy supply, according to the statement. The tool for the logistics sector will remain to the end of June. The PBOC will focus on key and weak sectors of the economy, including green growth, scientific innovations, infrastructure, it said.