BEIJING MONITORING DESK
The People’s Bank of China (PBOC) has announced an additional 100 billion yuan (approximately $14 billion) in credit support to assist with disaster relief efforts, particularly in response to recent flooding and other natural calamities.
According to China Global Television Network (CGTN), the central bank issued a statement highlighting that the new funding is aimed at strengthening support for agriculture, small and micro-sized businesses, and post-disaster reconstruction activities.
The move is intended to guide and encourage financial institutions to increase credit support for enterprises and individuals in disaster-hit areas — especially micro and small businesses, individual entrepreneurs, and agricultural entities — across provinces including Beijing, Hebei, Jilin, Shandong, and Gansu.
The central bank emphasized the need for its regional branches to make full use of the newly allocated relending quota. These funds are expected to help financial institutions meet the funding requirements for flood control, emergency relief, and rebuilding efforts, while also supporting affected businesses in resuming operations and restoring production.
This initiative reflects the Chinese government’s commitment to stabilizing the economy in disaster-affected areas and ensuring the resilience of key sectors, including agriculture and small-scale industries, in the face of increasingly frequent natural disasters.
