PBOC official promises to aid banks in lending money for trade-in initiatives

PBOC Official Peng Lifeng:

• PBOC will help banks in increasing loans for trade-in initiative
• will step up financial support for private and small firms in equipment upgrades
• allocates 100bn yuan loans for select small technology firms

Earlier:

• China’s State Planner to expand the scope to implement two new policies

More:

• China to provide up to 15% or price subsidy for smartphones

This article was written by Eamonn Sheridan at www.forexlive.com.