China central bank launches relending facility to support equipment upgrades

BEIJING (Reuters) – China’s central bank said on Wednesday it has set up a relending facility with a more than 200-billion-yuan ($27.59 billion) quota to support equipment upgrades in manufacturing and other sectors.

The facility aims to expand market demand in the manufacturing industry and promote consumption, the central bank said in a statement.

($1 = 7.2486 renminbi)

Source link