The People's Bank of China outlined almost 30 measures aimed at backing a stronger agricultural sector.
China will direct more financial resources towards key areas and weak links in rural areas the central bank said on Friday.The People's Bank of China outlined almost 30 measures aimed at backing a stronger agricultural sector, including financing major grain producers to expand their capacity and upgrade their equipment and technology.Bloomberg | Bloomberg | Getty Images
China will direct more financial resources towards key areas and weak links in rural areas, the central bank said on Friday, in Beijing's latest effort to stimulate a sluggish economy. The People's Bank of China outlined almost 30 measures aimed at backing a stronger agricultural sector, including financing major grain producers to expand their capacity and upgrade their equipment and technology.
Financial institutions should also issue medium- and long-term loans to support key areas such as upgrading agricultural facilities and supporting the seed industry, as well as ensuring the production and supply of grain, the statement said. Monetary tools such as re-lending and rediscount facilities will be used to guide financial institutions to enhance lending to the rural sector, the statement added.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China: PBoC cuts rates to support growth – UOBUOB Group’s Economist Ho Woei Chen, CFA, and Senior FX Strategist Peter Chia, review the latest decision by the PBoC. Key Takeaways The PBOC cuts the
Read more »
PBOC cuts one-year MLF rate to 2.65% from 2.75% previous, as expectedOn Thursday, China's central bank, the People’s Bank of China (PBOC), lowered the one-year Medium-term Lending Facility (MLF) rate to 2.65% from 2.75%
Read more »
People of color have more food allergies than White people, study finds | CNNPeople of color and those in lower income brackets seem to be disproportionately affected by food allergies, compared with people who are White and at higher incomes, a new study finds.
Read more »
People Are Confessing What They 'Secretly Judge' Other People For Doing And It's Brutally Honest'Giving a sentimental gift to someone and recording their emotional response. Even with permission, it feels like it takes away from the genuine gesture and turns it into something exploitative.'
Read more »
Food Allergies Affect People of Color More than White PeopleA new study found that people of color have more food allergies than white people and that lower-income people are also more affected by food allergies.
Read more »
China's Xi tells Bill Gates he hopes US-China friendship will continueXi Jinping called Bill Gates ‘an old friend’ and said he hoped they could carry out activities together beneficial to both China and the United States, in the Chinese president's first meeting with a foreign entrepreneur in years
Read more »