China's central bank launches re-lending mechanism to support equipment upgrades

The loan will support charging piles in industries such as education, health, culture, tourism and sports, electric vehicles, urban underground facilities, New infrastructure and digital transformation of industries, the central bank said. The People’s Bank of China has increasingly relied on structural or targeted policy tools, including low-cost lending, to support a slowing economy as concerns over triggering Capital flight and inflation, it faces limited room for rate cuts. People’s Bank of China has launched borrowing facilities to support transport, logistics and warehousing sectors hit hard by the new crown epidemic – , and carbon reduction platoons, technological innovation and pensions.

September , the Chinese cabinet announced measures to support companies in upgrading equipment, expanding a series of measures to support an economy ravaged by the new coronavirus. ($1=7.100 65Chinese Yuan Chinese Yuan)