The People's Bank of China announced an increase of 500 billion yuan in relending quotas for agriculture and small businesses, including a 300 billion yuan increase in relending quotas for private enterprises. After the adjustment, the total relending and rediscount quotas for agriculture and small businesses will increase from 4.35 trillion yuan to 4.85 trillion yuan, with the relending quota for private enterprises increasing from 1 trillion yuan to 1.3 trillion yuan. This will further incentivize local banks to increase credit support for agriculture-related, small and micro-sized enterprises, especially small and micro-sized private enterprises.
