News Column

SM Banks Obtained Re-loans of CNY100bn

June 6, 2014

BEIJING, June 6, SinoCast -- A number of small and medium financial institutions in China have obtained re-loans of CNY 100 billion for rural construction, which have been paid in at the end of the previous month, disclosed two people close to the matter.

The CNY 100 billion was directionally allocated to a number of small and medium banks to mainly support agriculture, countryside and farmers.

China's central bank has directionally sent over CNY 100 billion re-loans to China Development Bank for shantytown reconstruction, disclosed an insider, adding it will be a commonly-used monetary policy to directionally put loans into circulation and it does not rule out possibility to put about CNY 100 billion into circulation each month.

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Source: Sinocast Banking & Credit Beat (China)

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