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4/15, 8:46 AM (Source: TeleTrader)
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PBoC will support supply chains amid lockdowns

The People's Bank of China (PBoC) announced on Friday it will raise the level of financial support for stable logistics and industrial and supply chains as part of plans to coordinate coronavirus pandemic prevention control measures on one side and economic development on the other.

Relending and rediscounting will be some of the instruments that the Chinese central banks will use to spur more support for those efforts that include opening "green channels" for transport and logistics businesses.

The PBoC will be looking to provide "reasonable loan extension and loan renewal arrangements" to boost credit issuance in the civil aviation transportation sector, as well as to increase "the role of the accounts receivable service platform."

Baha Breaking News (BBN) / MS