PBoC provides further financial support for tech firms
Central bank follows up on previous policy and allocates $13.6 billion through lending facility
The People’s Bank of China (PBoC) is strengthening its financial support to small- and medium-sized enterprises in the technology sector, a senior official at the central bank has said.
In a press briefing today (January 8), Peng Lifeng, director general of the PBoC’s credit market department, said the bank was allocating an additional 100 billion yuan ($13.6 billion) to tech SMEs.
The transmission mechanism is akin to previous programmes, in which the PBoC provided funds to Chinese banks to lend
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