On Friday the People’s Bank of China announced about injection of 100 billion yuans into financial system (15.4 billion US dollars) under the medium-term crediting program to maintain adequate level of liquidity, Prime reports.
The bank’s statement says that the funds have been proposed to 13 financial organizations at the rate of 3.25%. The loan period is 6 months, and its purpose is the funding of small enterprises and agriculture of the country.
As per data of the central bank, the amount of disbursed and still not repaid loans under this program as of late November made up 695.8 billion yuans.
The medium-term crediting is the instrument of the monetary policy, adopted by the People’s Bank of China in 2014.
