People's Bank of China will launch a 100-billion-yuan ($15 billion) relending facility:
- to support the transport, logistics and storage sectors
- "Monetary policy should coordinate with fiscal and industrial policies to jointly boost the confidence of market players, stimulate market drivers, support the real economy and achieve the goal of stable growth," the bank said.
On Wednesday last week the PBOC announced similar support for the coal industry:
- the Bank increased targeted re-lending quota of an additional 100 billion yuan to aid clean energy development
Info via state media outlet China Global Television Network (CGTN.com)
This tool from the PBOC will give financial institutions more incentives to boost lending at lower funding costs.
PBOC Governor Yi Gang: