China Business Now丨PBOC to support SMEs with 200b cheap loans; 21 killed as heavy storm hits Hubei

The People's Bank of China (PBOC) is providing another 200 billion yuan in cheap funds to banks as an incentive to boost credit in regions where lending has been lagging. The money is being allocated under a new re-lending quota for banks to support agriculture, micro and small businesses and the private sector in 10 provincial-level regions where credit has risen at a relatively slow pace, the central bank revealed in its second-quarter monetary policy implementation report.