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- China State Council: We will increase yuan re-lending, re-discount quota by ¥500 billion
China State Council: We will increase yuan re-lending, re-discount quota by ¥500 billion
- Says will increase yuan re-lending and re-discount quota by 500 billion yuan to support small and medium banks
- Encourages banks to delay interest payment for eligible firms until 30 June
- Encourages commercial banks to step up lending to small firms
- Says will push lending rates significantly lower
- Will lower interest rates for loans to small and agriculture businesses by 0.25%
- Will exempt VAT for small businesses in Hubei from March to end-May
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