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China to continue supportive financial policies in Tibet

2015-12-24 10:22

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The People's Bank of China (PBOC) will continue to implement supportive financial policies in the Tibet Autonomous Region during the 13 Five-Year Plan period (2016-2020), said Pan Gongsheng, deputy governor of the central bank.

Pan made the remarks at a meeting on supporting economic and social development in Tibet on Wednesday.

The PBOC will continue to encourage commercial banks to locate more lending resources to Tibet and encourage various kinds of capital to establish private banks and rural banks in the area.

The central bank will also expand financing channels in Tibet and increase the share of direct financing.

Liu Shiyu, chairman of the Agricultural Bank of China (ABC), said at the meeting that the bank now has 511 offices in Tibet and it plans to cover the whole area by 2016.

Xie Xuezhi, chairman of the Agricultural Development Bank of China, said the bank would provide no less than 100 billion yuan in loans to Tiebt in the next five years.

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