February 11, 2019 / 10:09 AM / 3 months ago

China unveils guidelines on financial services for rural rejuvenation

FILE PHOTO: A farmer plants seedlings at a field in Dongfeng village, Hunan province, China May 9, 2018. REUTERS/Ryan Woo

BEIJING (Reuters) - China on Monday issued guidelines to improve financial services for rural rejuvenation, vowing to encourage local governments’ special bonds issuance to support projects in the countryside, according to the central bank.

China will support qualified agriculture companies to go public, the central bank said in a statement posted on its website, which was jointly issued by multiple authorities including the finance and agriculture ministries.

The guidelines also said China will strengthen monetary policy support and use differentiated reserve requirement tools to support rural areas.

Reporting by Beijing Monitoring Desk; Editing by Shreejay Sinha

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