July 31, 2019 / 11:01 AM / 17 days ago

China c.bank raises small banks' relending quota by 50 bln yuan

BEIJING, July 31 (Reuters) - China’s central bank said on Wednesday it will increase its relending quota for small and medium-sized banks by 50 billion yuan ($7.27 billion) to boost credit for small and private firms.

The total relending quota under the scheme will be increased to 369.5 billion yuan, the People’s Bank of China said in a statement on its website.

The government has been providing more support for small firms as economic growth cools to near 30-year lows. ($1 = 6.8815 Chinese yuan renminbi) (Reporting by China Monitoring Desk and Kevin Yao; Editing by Kim Coghill)

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