12 April 1999
Chinas bank orders more farm loans

CHINAS central bank governor has told rural credit co-operatives to increase lending to farmers in a move designed to reflate the economy.

Rural credit agencies have been told to boost lending to grain and cotton producers as well as make loans available to farmers to let them build houses and buy consumer goods.

The Peoples Bank of China, the central bank, has recently extended Rmb 15bn (£1.1bn) in loans to rural credit agencies.

The bank wants the agencies to increase lending to farmers who find it difficult to get credit.

  • Financial Times 12/04/99 page 4 (News Digest)