Economic news
China central bank launches relending facility to support equipment upgrades
2022.09.28 05:20
[ad_1]
© Reuters. FILE PHOTO: An employee inspects an automated guided vehicle (AGV) at a Lonyu Robot Co factory in Tianjin, China, September 7, 2021. Picture taken September 7, 2021. REUTERS/Tingshu Wang/File Photo
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)
[ad_2]
Source link
