CHINAEUROPE AFRICAASIA 中文双语Français
Business\Markets

China central bank to give more credit support to poor areas

Xinhua | Updated: 2017-08-22 09:58

China central bank to give more credit support to poor areas

View of the headquarters of the People's Bank of China, China's central bank, in Beijing, Jan 12, 2017. [Photo/VCG]

BEIJING - China's central bank has called for the country's financial institutions to give more credit support to poor areas to help lift people out of poverty.

At a meeting Monday, Pan Gongsheng, deputy governor of the People's Bank of China, urged China's policy and commercial banks to step up financing support for relocation projects and infrastructure building in poor regions.

Securities and insurance companies should expand their business network in these areas, Pan said, stressing China's poverty relief target needs coordinated efforts from various financial organs.

The central bank also pledged to effectively use monetary policies and finance tools to guide more institutions to contribute to poverty alleviation.

China has set 2020 as the target to complete the building of a moderately prosperous society, which requires the eradication of poverty.

As of the end of 2016, there were still 43.35 million Chinese living below the country's poverty line.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US