November 1, 2018 / 3:17 AM / 8 months ago

China to step up policy support for rural areas: official

BEIJING, Nov 1 (Reuters) - China will step up monetary policy support for rural areas and will continue to keep reserve requirement ratios (RRRs) low for rural financial institutions, Zhu Hexin, a vice governor at the People’s Bank of China (PBOC), said on Thursday.

Zhu was speaking at an international forum on China’s opening up and poverty reduction efforts.

China’s outstanding loans for poverty alleviation exceed 10 trillion yuan ($1.44 trillion), and the risks associated with those loans are overall manageable, Zhu said.

China will prevent financial and moral hazard risks associated with poverty alleviation efforts, he said. ($1 = 6.9671 Chinese yuan renminbi) (Reporting by Yawen Chen Writing by Ryan Woo; Editing by Kim Coghill)

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