The State Council additional policy bank 2008 loan size of 100 billion

Beijing in December 3, Premier Wen Jiabao today chaired a State Council executive meeting to study the deployment of financial policies and measures to promote economic development at present. The meeting decided to increase the size of the policy bank loans 100 billion yuan in 2008.

The meeting pointed out, to tackle the international financial crisis and maintain steady and rapid economic development, must seriously implement the proactive fiscal policy and moderately loose monetary policy, to further increase financial support for economic development. Through the improvement of supporting policies and measures and innovative institutional mechanisms to mobilize the enthusiasm of commercial banks to increase lending, financial institutions to enhance the ability to resist risks, banks, securities, insurance form and other aspects of expanding financing, risk diversification, better play to the financial support of economic growth and promote structural adjustment effect.

The meeting identified policy measures to promote economic development of the financial sector, including: the implementation of moderately loose monetary policy to promote the steady growth of money and credit. Comprehensive use of the deposit reserve ratio, interest rates, exchange rates and other means to maintain adequate supply of liquidity in the banking system, additional policy banks 2008 annual loan size of $100 billion.