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PBOC Unveils Relending Facility For Tech Transformation

CHINA PRESS
MNI (Singapore)

The People’s Bank of China will set up a CNY500 billion, re-lending programme to support the country's technological transformation and equipment renewal projects in key areas, according to a statement released on Sunday. The programme will offer loans via 21 banks to small- and medium-sized tech companies at an interest rate of 1.75%. The one-year loans can be extended twice, for up to a year each time, the statement said. (Source: PBOC Website)

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