People’s Bank of China to inject cash into smaller businesses

China’s central bank will add 300 billion yuan (about 46.49 billion U.S. dollars) of reloan quota in the next four months to support small and micro firms and self-employed businesses, according to the People’s Bank of China (PBOC) Tuesday.

The PBOC will prop up policy support for key areas and weak links, Pan Gongsheng, deputy governor of the PBOC told a press conference, adding that the bank will make good use of the reloan quota to support smaller businesses.

Official data shows that China has issued 6.1 trillion yuan of inclusive loans to small and micro firms since last June.

The outstanding amount of the inclusive loans surged 29.3 percent year on year to 17.8 trillion yuan by the end of July