To thoroughly implement the important instructions of General Secretary Xi Jinping on flood control and disaster relief as well as the decisions and arrangements made by the Communist Party of China Central Committee and the State Council, and to strengthen financial support for flood control, disaster relief and post-disaster reconstruction, the People’s Bank of China (PBOC) has recently increased the quota for central bank lending to support rural development and micro and small businesses (MSBs) by RMB100 billion, guiding and encouraging financial institutions to increase credit support for business entities, particularly MSBs, self-employed individuals, as well as agricultural and breeding enterprises and farmers, in disaster-affected regions including Beijing, Hebei, Jilin, Shandong, and Gansu.

Going forward, the PBOC will urge its branches in relevant provinces (autonomous regions and municipalities) to make full and effective use of the newly added quota for central bank lending to support rural development and MSBs. It will guide financial institutions to actively meet the financing needs for flood control, disaster relief, and post-disaster reconstruction, so as to support business entities in expediting the recovery of their production and business operations.